Comprehensive Annual Financial Report

For the fiscal year ended June 30, 2009

Union Public SchoolsIndependent District #9

Tulsa, Oklahoma

Prepared by:Department of Finance

Debra J. Jacoby, CPAChief Financial Officer/Treasurer

Catherine L. Smart, CPADirector of Financial Reporting/Treasury

Gail L. Easterling, CPADirector of Accounting

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COMPREHENSIVE ANNUAL FINANCIAL REPORTFor the Fiscal Year Ended June 30, 2009

Page

INTRODUCTORY SECTION

Transmittal Letter and District Profile ..................................................................................1-18

ASBO Certificate of Excellence ....................................................................................................19

GFOA Certificate of Achievement...............................................................................................20

School Officials ...............................................................................................................................21

Organizational Chart ....................................................................................................................22

FINANCIAL SECTION

Independent Auditor’s Report ..............................................................................................23-24

Management’s Discussion and Analysis .............................................................................25-36

Basic Financial Statements

Governmentwide Financial Statements

Statement of Net Assets .................................................................................................37

Statement of Activities ..............................................................................................38-39

Fund Financial Statements

Balance Sheets - Governmental Funds .........................................................................41

Statement of Revenues, Expenditures, and Changes in

Fund Balances - Governmental Funds ...................................................................42

Reconciliation of the Statement of Revenues, Expenditures, and Changes

in Fund Balances of Governmental Funds to the Statement of Activities .....43

Statement of Revenues, Expenditures, and Changes in

Fund Balance - Budget and Actual - (Budgetary Basis) - Budgeted

Governmental Fund Types - General Fund ..........................................................44

Statement of Revenues, Expenditures, and Changes in

Fund Balance - Budget and Actual - (Budgetary Basis) - Budgeted

Governmental Fund Types - Building Fund .........................................................45

Statement of Net Assets - Proprietary Funds .............................................................46

Statement of Revenues, Expenses, and Changes in

Fund Assets - Proprietary Funds ............................................................................47

Statement of Cash Flows - Proprietary Funds ............................................................48

Statement of Net Assets - Fiduciary Funds .................................................................49

Statement of Changes in Net Assets - Fiduciary Funds ...........................................50

Notes to the Financial Statements........................................................................................51-69

COMPREHENSIVE ANNUAL FINANCIAL REPORTFor the Fiscal Year Ended June 30, 2009

PageFINANCIAL SECTION (Cont.)Required Supplemental Information:

Schedule of Funding Progress for Other Post Employment Benefits ...........................70

Combining Schedules:

Combining Balance Sheet - Nonmajor Governmental Funds .........................................71

Combining Statement of Revenues, Expenditures, and Changes

in Fund Balances - Nonmajor Governmental Funds .................................................72

Combining Statement of Changes in Assets and Liabilities - Agency Funds .............73

Capital Assets Used in the Operation of Governmental Funds:

Comparative Schedules By Source ......................................................................................75

Schedule by Function and Activity ......................................................................................76

Schedule of Changes by Function and Activity ................................................................77

STATISTICAL SECTION

Net Assets by Component ...........................................................................................................81

Changes in Net Assets ............................................................................................................82-83

Fund Balances of Governmental Funds.....................................................................................84

Changes in Fund Balances of Governmental Funds .........................................................85-86

Assessed and Estimated Actual Value of Taxable Property .................................................87

Direct and Overlapping Property Tax Rates ............................................................................88

Principal Property Taxpayers ......................................................................................................89

Property Tax Levies and Collections..........................................................................................90

Ratio of Outstanding Debt by Type ...........................................................................................91

Ratios of Net General Bonded Debt Outstanding ...................................................................92

Direct and Overlapping Governmental Activities Debt .........................................................93

Legal Debt Margin ..........................................................................................................................94

Demographic and Economic Statistics ................................................................................95-96

Tulsa Area Principal Employers ..................................................................................................97

Capital Assets by Function and Activity ...................................................................................99

Employee Information ............................................................................................................... 100

Operating Statistics .................................................................................................................... 101

Support Services Statistics ........................................................................................................ 102

School Building Information ............................................................................................ 103-106

Insurance Schedule..................................................................................................................... 107

Union Public SchoolsIndependent District #9

Education Service Center l 8506 E. 61st Street l Tulsa, OK 74133-1926 l (918) 357-4321 l Fax (918) 357-6017website: www.unionps.org

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December 4, 2009

To the Patrons of Union Public Schools:

The Comprehensive Annual Financial Report of Union Public Schools, Independent District #9 (the “District”) for the fiscal year ended June 30, 2009, is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the District. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds of the District. All disclosures necessary to enable the reader to gain an understanding of the District’s financial activities have been in-cluded.

This letter of transmittal is designed to complement Management’s Discussion and Analysis and should be read in conjunction with it. Union Public School’s Management’s Discussion and Analysis can be found immediately after the report of the independent auditor, page 23.

The report includes all current funds of the District. The services provided include education of preschool through adults with pri-mary emphasis on K-12.

Union Public Schools, Independent District #9, Tulsa County, is a premiere Oklahoma school district with a strong sense of community pride. In fact, Union is its own community. Its 28-square-mile boundary does not reside within one particular city.

Instead, it encompasses both southeast Tulsa and a por-tion of the neighboring city of Broken Arrow, and the schools act as a unifying force for area residents. At the center of the community--our Main Street, if you will--is the school system with its more than 15,000 students, pre-kindergarten-12.

Parents choose the Union district for its all-around excellence--wide-ranging ac-ademic programs, varied school-related activities, strong emphasis on charac-ter development, outstanding teachers, respected elected and administrative leaders and remarkable facilities.

Each year the district has an impressive number of National Merit Scholars, and its graduating classes receive millions of dollars in scholarship offers to col-leges and universities throughout the country. Approxi-mately 91.7 percent of the 2008 graduating class pursued post-secondary education. Union is one of the leading districts in Oklahoma in the number of teachers earn-ing prestigious national certification, and its “Character Counts!” program is considered a statewide model.

When Union was founded in 1919, it combined four small, rural communities, Boles, McCollough, Mayo and Alsuma - and had only four students in its graduating class. Today it is the ninth largest district in Oklahoma and has thir-teen elementary schools, a Sixth/Seventh Grade Center, an Eighth Grade Center, an Intermediate High School, an Alternative School and a High School.

Union’s innovative curriculum features programs that pro-vide exemplary educational experiences for students at all elementary and secondary levels. Instructional technology offers students state-of-the-art tools to enhance reading, language, math, science and writing skills. Art, music and physical education enrich the traditional curriculum. Pro-fessionals in remedial reading, speech therapy and special education are assigned to the schools along with library media specialists, nurses and counselors. Courses for gift-ed students are offered at all levels, as are programs for English Language Learners.

Two Community Schools, complete with health care clin-ics and other agency services, are among Union’s 13 el-ementary schools. The Extended Day Program offers qual-ity child care before and after school at all elementary sites.

Pre-kindergarten programs for four-year-olds are avail-able throughout the district, and the Union Early Child-hood Center serves three-year-olds.

The comprehensive secondary curriculum serves both col-lege-bound and non-college-bound students. Core curricu-lum classes of varying levels of difficulty are offered to meet individual student needs. In addition to challenging Pre-AP classes, Union offers a variety of Advanced Place-ment classes which allow students to earn college credit while learning about a subject in greater depth and de-veloping study and analytical skills that are important to success in college. In partnership with Tulsa Community

College, Union offers a Concurrent En-rollment Program, enabling students to earn both high school and college credits at the same time.

The Union Collegiate Academy, a pro-gram at Union High School, provides top performing students exposure to college and career topics. Students interested in vocational programs are transported to the appropriate Tulsa Technology Center campus for the curriculum they desire.

Union’s award-winning Alternative School is internationally recognized and helps students stay in school or return to school, giving them a chance to get back on track to graduate.

Union’s strong sense of tradition and pride is underscored in its theme, “Working to Form a More Perfect Union.”

Our Mission

It is our Mission to provide our community of learners with educational opportunities to acquire and develop the best possible academic, vocational, recreational, social and participatory skills, enabling them to become valued, contributing members of a changing global society.

Our Goals

l Academic excellence for all students

l Preparation of students for positive citizenship

l A positive educational environment in which stu-

dents, parents, community and staff assume respon-

sibility for their role in the learning process

l District excellence for all employees

l Expanded opportunities for learning

l Increased use of technology

l Enhanced Union pride

l Support base to include patrons, partnerships and

community resources

l Long-term plan to accommodate growth2

Introduction

Transportation

Approximately 8,895 students were eli-gible for transporta-tion each day on the district’s 93 buses. Union’s buses drove more than 765,852 miles in 2008-2009.

Nineteen buses were used for summer school with five at McAuliffe, three at Cedar Ridge, two at Briarglen, three at the Intermediate High, three at Rosa Parks and three for special education. The district’s total cost for fuel was $317,882.60.

Child Nutrition

With 130 employees, the child nutrition department served 249,901 breakfasts and 1,326,185 lunches during the 2008-09 school year. In addition, 48,000 adult lunch-es and 2,600 adult breakfasts were served along with 151,200 early childhood meals and 20,444 after-school snacks. Meals are also served during the summer months for summer school. There were 11,364 breakfasts and 11,833 lunches provided during summer to needy chil-dren.

Maintenance Services

Maintenance services had 14 employees who processed 9,250 work orders annually ranging from electrical, tele-communications, mechanical, building electronics, hard-ware, carpentry, and preventive maintenance.

Facility services’ employees each kept 32.7 acres of school property manicured; set up and cleaned for more than 157 major events; and processed 131 work orders requir-ing 12,773 hours to complete. They also receive Okla-homa School Plant Management Association (OSPMA) and Oklahoma Turf Research Foundation training each year.

Custodial services had 154 employees with 92 night cus-todians who each maintained 30,000 square feet of build-ing space. Employees receive hands-on safety practice training. Eleven different languages were spoken, and Spanish and English classes were offered as was a Build-ing Engineer certification class.

Purchasing and Supply Management included three em-ployees and a safety coordinator. They handled procure-ment services, districtwide quotes and bids, contract re-view, maintenance repair and operations sourcing, and scheduling and maintaining facility rentals and agree-ments.

Warehouse and distribution services involved eight em-ployees who were responsible for food storage and distri-bution, central receiving, daily mail and delivery service, custodial supply distribution, records storage and mainte-nance and instructional supply distribution.

Union Multipurpose Activity Center (UMAC)

Four employees at the Union Multipurpose Activity Center coordinated UMAC events and facility rental. The number of events held at the UMAC during 2008-2009 totaled 994 with an average of 18 events per week. The UMAC also houses the U-Wear store which markets Union spirit wear and items, the Fine Arts Department, the Athletics Depart-ment and an in-house production studio.

Construction/Facilities

Between 400 and 500 people celebrated the grand opening of Central Park at Union in September. Visitors got a chance to see the new facilities and eat Backyard Burgers. KHITS 106.9 provided music and Board of Education member Jeff Bennett, who owns Curves fitness club, provided teth-ered hot air balloon rides. Voters approved construction of the park as part of two different bond issues. The first phase included a JV/Intramural-style football field, space for soccer and baseball, a concession stand, restrooms, a play area for younger c h i l d r e n , and a track that circles the property for jogging or running. The sec-ond phase, which be-gan in the summer of 2008, in-cluded an outdoor classroom, additional running track, and baseball backstops.

In the wake of high gas and utility prices, Superintendent Dr. Cathy Burden asked employees to help save money by cutting back on energy-related costs. With prices soar-ing around the nation, Union started the school year with a plan to save fuel and cut energy costs. The plan fo-cused on transportation and building-level conservation

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Operational Statistics

focal part of the school. A new entrance was installed so the front of the media center could be seen from the com-mons area. A new circulation desk, new carpet, and a new front door also spruced up the area. Two science rooms at the High School were also remodeled, the old sisal wall covering on several hallways was removed, and a new se-cured entryway for the front entrance was built.

Growth continued during the 2008-2009 school year, al-though it slowed to less than one percent. Union served 14,658 students – 6,993 at the elementary level and 7,665 in grades 6-12; 7,536 were male and 7,122 were female. In terms of ethnic origin, 9.9 percent were Native Ameri-can, 18 percent were Hispanic, 14.3 percent were African American, 6.8 percent were Asian, and 51 percent were Caucasian.

There were 4,085 first through twelfth grade students en-rolled in Union’s gifted and talented program.

Ten percent or 1,470 of our students were enrolled in spe-cial education.

In 2008-2009, ap-proximate-ly 3,126 s t u d e n t s throughout the district were bi-lingual or lived in a home where a language other than English was spoken, compared to 206 in 1995. The total bilingual count included 39 different languages.

More than 38.5 percent of our students reported that they lived with just one of their biological parents – 4,984 (34 percent) lived with their mothers and 658 (4.5 percent) with their fathers.

The total number of homeless children enrolled during the 2008-2009 school year was 739, down from 756 the previ-ous year, and 49 students were listed as self-supporting.

There were 837 students (grades K-5) enrolled in Union’s Extended Day Program, of whom 174 attended the morn-ing program, 218 attended the afternoon program, and 445 students attended both programs. The EDP Sum-mer Camp was held at Moore Elementary offering weekly themes over an eight-week period. Weekly camp atten-dance averaged 155.

Construction/Facilities (Cont.)

to save hundreds of thousands of dollars. The number of stops buses made was reduced, as was mileage for ath-letic, fine arts, and out-of-town trips. Instead of the mile minimum eligibility, Intermediate and High School stu-dents were required to live at least a mile-and-a-half from school in order to be transported. Elementary and sec-ondary school field trips were reduced, and every site or department was charged back for its transportation costs.

Union dedicated its thirteenth elementary school – Thomas Jef-ferson Elementary – in November. Jef-ferson opened August 14, 2008, providing for expansion of the program for four-year-olds districtwide. Voters approved the construction and fur-nishing of the school through a series of bond elections start-ing in 2006. The first was for $2.5 million

for site development, soil testing, engineering and archi-tectural consultants. The second bond election in 2007 included $9.5 million for construction of the site, and vot-ers approved another $1.9 million in 2008 for furniture, fixtures, and equipment at the school.

District voters approved a $20-million bond issue by 83.6 percent in February. Major projects included extensive re-modeling at Grove and updating at the Union Performing Arts Center. At 35 years old, Grove was in desperate need of classroom, cafeteria, and gymnasium expansions due to growth in student enrollment. Additional restrooms and a new main entrance with added security features were also planned.

Other projects in the 2009 bond issue included replace-ment of old balcony handrails, lighting and stage cabling, equipment and decorations at the Union Performing Arts Center; roof replacement at Clark Elementary and build-ings at three other school sites; a second phase of remod-eling at the softball and baseball complex; and upgrad-ing the Eighth Grade Center’s gym and outside basketball courts.

High School students returned in the fall to a media center in the midst of construction - an effort to make it a more

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Operational Statistics (Cont.)

Student Statistics

The number of High School students in Advanced Place-ment (AP) courses was 1,104, while there were 941 stu-dents, grades 9-12, enrolled in Pre-AP Courses.

More than 11,300 Union students were involved in at least one arts class, including 6,972 elementary students who took both art and music. At the secondary level (grades 7-12) 802 were in band; 578 in orchestra; 909 in vocal mu-sic; 600 in drama; 60 in competitive speech; and 2,188 in a wide variety of visual arts disciplines.

During 2008-2009, 1,619 students in grades K-12 partic-ipated on 278 teams in the Intramural sports program. Additionally, over 640 Union parents volunteered their time as coaches, volunteers and coordinators, giving more than 28,600 hours. More than 5,800 practices were held, and 1,100 games were played in Union facilities, mostly on Saturday mornings.

Elementary summer school was held at Briarglen, McAu-liffe, Rosa Parks, and Cedar Ridge. Thanks to federal and state grant funds, classes were offered free of charge. In summer school, there were 450 first and second grade students enrolled under the Reading Sufficiency Act (RSA); 225 third grade students enrolled in RSA Academy; 100 first through fifth grade students under the Native Ameri-can grant; and 302 first through fifth grade students un-der Title I. In addition, there were 100 kindergarten stu-dents who chose to participate in Cedar Ridge tuition-paid classes offered in June and July.

During the regular school year, 307 first, 491 second and 460 third graders were eligible to participate in the Read-ing Sufficiency Act program.

Four seniors were named National Merit Finalists - Ryan Proc-tor, Alana Denning, Dhara Sheth, and Bri-an Ward. Ethan Fowl-er was a semifinalist.

Merit Commended Stu-dents included seniors Austin Cagle, Claire Eastaway, Nicola East-away, Courtney Handy, Aubrey Harris, Andy Iwamoto, Jennifer Kiskin, Rachael Reagan, and Jared Williams.

Senior Cara Berberet received first place for her artwork in the Sutton Awards Scholarship Competition. Cara re-ceived a $3,000 scholarship for her entry.

Senior Nicole Sefton was featured on Channel 6, talking about her newly published book, Luxuria.

Union High School was awarded a 2009 National Gold Council of Excellence Award by the National Association of Student Councils for its exemplary record of leadership, service, and activities that serve to improve the school and community. Close to 140 high schools were named National Councils of Excellence, but Union was one of only 118 nationwide to receive the highly esteemed honor of being named a National Gold Council of Excellence.

Union’s Air Force Junior Reserve Officer Training Corps (JROTC) was invited to participate in the 56th Inaugural Parade for President-elect Barack Obama in January, and they received help from the public to raise $35,000 to pay for the historic trip. The unit was Oklahoma’s sole rep-resentative in the parade and one of only six JROTC pro-grams nationwide selected.

Seniors Brooklyn Beasley and Brian DeShane were named Homecoming Queen and King.

Senior Hannah Hensel won the Region 7 Bob R. Williams Scholarship ($1,000), awarded to students who have over-come obstacles, disabilities, or injury to participate in ath-letics. Hannah has had cystic fibrosis all her life, but she competed at the varsity level in both cross country and track since her freshman year.

The Union Alternative High School class participated in the first annual Great Sand Springs Soap Box Derby Race in October. Students designed and built the racer.

Junior Andrew Roberson was honored by the Oklahoma Center for Community and Justice (OCCJ) for his first-place winning essay at the high school level.

Junior John Hill was named state winner for the annual Invest Ed® competition. Hill and senior Kristen Oyler were regional winners as well.

5

Student Statistics (Cont.)

Secondary Achievement (Gr. 7-12)

High School Valedictorians were Oliver Cabrera, Cecilia Dinh-Nguyen, MaiNhia Lor, Heidi Pham, Kenny Quang, Varuna Rao, Dhara Sheth, Krishna Suthar, and Elizabeth Tran. Salutatorians were Stephen Allred, Megan Atchley, Ling Cheng, Claire Eastaway, Nicola Eastaway, Jennifer Kiskin, Kristin Perrin, Bao-Tran Pham, and Rachael Rea-gan.

Participation in the Union High School Service Learning program grew to 85 students working in 45 different fields. The program allows students to intern or shadow professionals to learn more about a certain career.

The High School Repertory Theater Class won first place at regional competition with “Our Country’s Good.” They not only won first for the play but for tech (staging, lights, sound) as well. Ten cast members were chosen by the judges from all the shows to be All-Star cast members, and six of the ten were from Union - Kelsey Griswold, Josh Adams, Scott Jones, Sarah Pradhan, Alex Enterline, and Ethan May.

The Fine Arts Department presented an outstanding All-School Musical, Les Miserables.

Senior trumpet player Jenny Daer was selected for the US Army All-American High School Marching Band which played at the U.S. Army All-American Bowl, produced by SportsLink. It was the premier high school football game in the nation and featured the nation’s top high school senior football players and now, the finest high school se-nior marching musicians.

Seniors Ryan Proctor and Paige Giles were named Mr. and Miss Union, the highest honor a Union student may receive from the school.

Union students placed first and/or second in almost every category entered in the Region-al Science Fair. Twen-ty students competed, and 11 were invited to the Oklahoma State Science and Engineer-

ing Fair (OSSEF). These students were Cody Byrd, Charles Earnest, Sandra Fernandez, Mariam Ghanem, Brad Jan-zen, Meghana Rao, Varuna Rao, Michael Ripley, Allen Shih, Acille Sammur, and Hannah Wendelbo. Senior Var-una Rao was invited to the International Science Fair in

Reno, Nevada. Only one student is invited to attend the International Fair from the Regional level.

Juniors Brittany Brown, Andrew Roberson, and Destiny Vinnett were part of the Youth Ambassador Student Ex-change program, joining students from four other cities across America on a tour of Israel. First, they met Rus-sian and Israeli students during a tour of Washington D.C. and New York City, and then traveled on to Israel.

The Renegade Regiment participated in a clinic provided by members of the United States Air Force Band, “Airmen of Note,” the premier jazz ensemble of the United States Air Force.

The Regiment was crowned the Broken Arrow Invitational Champion at an event featuring 30 bands from throughout Okla-homa, Missouri, and Arkansas. They also won second place at the Oklahoma Band-masters Association Class 6A Marching Band Championships.

The Renegade Regi-ment was named a semifinalist at the 2008 Bands of America Grand National Championships at the new Lucas Oil Stadium in Indianapolis. The band had two great performances and ended up 16th out of the 92 groups attending.

Sophomore Caleb Nelson received a Gold Key at the 2009 Oklahoma Regional Scholastic Art Awards Ceremony and Exhibition. Caleb was honored for his animation short, Pirates of the Caribbean: Search for the Chest of Jewels. He was the only student in Oklahoma to win a Gold Key in the Animation category, and his project was forwarded to finals competition in New York.

Eighth grader Claire Thompson took first place in the Re-gional Spelling Bee and advanced to the State Spelling Bee in Oklahoma City.

Six eighth grade students placed in the Southside Serto-ma Club annual essay contest with the topic “Integrity in United States Democracy.” First place winner of $100 was Whitney Cipolla, second was Jess Vanlandingham and third was Brett Asher.

Eighth grade advanced science students participated in the Desk and Derrick Club of Tulsa Energy Essay con-

6

Secondary Achievement (Cont.)

test and took 13 of the top 15 scores. Students and spon-soring teachers in the top 10 won a cash prize, and all of those students were from Union. First-place student

Alexander Holt, his parents, his teacher, and principal received an invitation to attend the group’s annual awards banquet.

More than 400 eighth graders received PRIDE cards through a program the school uses to acknowledge and reward students who are making good choices. Students must make A’s or B’s in all classes, have

good attendance, never receive a discipline referral, or be assigned any form of detention. Special PRIDE privileges include front of the lunch line pass, a special area to sit at lunch, and access to hallways and lockers in the morning before the other students are dismissed from the Commons.

Eighth grader Mackenzie Kulka was a big winner in tram-poline events at the Olympic Training Center in Colorado Springs. She took home two first-place gold cups, one in level 10 synchronized tramp and the other in level 10 in-dividual trampoline.

Seventh graders Casey Cai, Rachel Hensley, and John Mohr qualified for grand recognition in the Duke Univer-sity Talent Identification Program, and 44 Union students qualified for state recognition by taking the SAT or ACT as part of the 2009 Duke University 7th Grade Talent Search.

The seventh grade Competition Choir competed at the Heartland Music Fest in Oklahoma City and not only won a Superior rating, but also took the Sweepstakes trophy for highest total points.

Andersen third grader Mallory King arrived at school in a fire truck with sirens blowing, dressed as a fireman. She received the honor after winning the City of Broken Ar-row’s “Prevent Home Fires” picture contest with her entry about the importance of smoke alarms.

Darnaby fifth grader Fletcher Lowe won second place in the Tulsa Library Kids’ Creative Writing contest for his short story.

The winner of the countywide contest for the annual “Don’t Bug Me” campaign was Darnaby fourth grader Is-abella Beffer. She was chosen over approximately 100 other entries from both public and private schools.

Two Moore students - third grader Victoria Kargl and fourth grader Yosef Maroof were first- and second-place winners in the state aviation poster contest. Both were recognized in Oklahoma City in a formal ceremony by the Oklahoma Aeronautics Commission.

Moore won first place and $750 at the Tulsa Run in the small schools division with more than 300 entries. Jeffer-son also won first place and $750 in the new schools divi-sion with 97 participants. Peters won two honors collect-ing $1,250 - $500 for the largest percent increase school team and $750 for first place large school division.

Six Okla-homa gym-nasts who train with T3, Tulsa’s T u m b l i n g and Tram-p o l i n e Team, quali-fied for the JumpStar t N a t i o n a l Team and trained at the USA Gymnastics (USAG) Training Camp in Huntsville, Alabama, with some of the best elite and Olympic coaches in the country. Sixth grader Sabrina Bogle and Andersen fifth grader Bailey Bynum made the national team for the second year in a row.

Senior Trevor Horstmann won a state tennis champion-ship in No. 2 singles and finished the season 33-0 with a 6-0, 6-0 win in the final.

Senior Taylor Monaghan was named Gatorade’s boys’ state cross country runner of the year. The award rec-ognizes athletic excellence, academic achievement, and character on and off the race course.

Winners of All-Metro and All-State player of the year hon-ors for the fall and winter sports were All-Metro boys’ swimmer of the year - Nelson Head, and All-Metro foot-ball player of the year - Tracy Moore. Steven Baker was cross country boys’ runner of the year and the Jim Thorpe Award winner for the second year in a row.

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Secondary Achievement (Cont.)

Elementary Achievement

Union Intermediate & High SchoolAthletic Achievement

Senior Jeremy Smith was named All-Metro Football Player of the Year by the Tulsa World. Linebacker Daniel Haus-her and defensive back Howard Scarborough represented Union in the All-State football game.

Union athletes named to the Oklahoma Coaches Associa-tion All-State Teams were Cody Beisel and Joey Sheridan – wrestling; Rachel Bailey, Nelson Head, and Rachael Reagan – swimming; and Destinee Frierson – girls’ bas-ketball.

Sophomore Ashton Collier had a 67 - a course record - on the second day of the 58th Women’s Oklahoma Golf Association Girls Junior Championship at Willow Creek Country Club in Oklahoma City.

A run-two punch by seniors Boyea Lockett and Taylor Monaghan sparked the Redskins to a Class 6A state track championship.

The Union girls’ swim team placed second and the boys’ team placed fifth in state competition. Freshman East-man Holloway won state championships in the 200 Free-style and 500 Freestyle, senior Nelson Head took state championships in the 200 IM and the 100 Backstroke, and sophomore Megan Myers took state in the 500 Freestyle.

The wrestling team capped off an outstanding season by winning the OSSAA Class 6A State Championship. Union wrestlers placing at the state tournament were senior Joey Sheridan who won his third consecutive individual state championship, while freshman Josh Walker won his first

state championship.

The boys’ cross coun-try team won the state championship for the second year in a row. Steven Baker repeat-ed with the individual championship. Both Steven and Taylor Monaghan earned All-State honors.

The varsity football team was honored by the High School sport web site MAXPREPS and the Army National

Guard. Of 15,000 high school football teams nationwide, only 30 of the top-ranked teams were honored.

Union won its fifth state football title with a 34-20 win over Jenks before a crowd of 16,000 at Boone Pickens Sta-dium in Stillwater.

The Highsteppers competed in the Champion Dance na-tional competition in Orlando, Florida, earning Top 5 fin-ishes in four categories. They earned a fourth place finish with their Jazz routine, second place finishes in the Kick and Modern Dance categories, and in the Lyrical category the Squad was crowned Champions.

The Varsity Cheer Squad earned state runner-up at the Oklahoma State cheerleading championships. They also received the Academic Achievement Award given to squads having a minimum cumulative grade point average of 3.25 and one that is ranked in the upper one-third of the 5A clas-sification.

Seniors An-drea Bed-ingfield and Krista An-derson were selected for the Oklahoma All-State cheer team. The girls made the East All-State team, selected from approximately 70 All-Region team members.

The Varsity Cheerleaders competed in Dallas at the Na-tional Cheerleaders Association Nationals competition placing fifth overall and defending their Super Large Divi-sion National Champion title for the third straight year.

The Union Pom squad competed with teams representing 25 different states in the Universal Dance Association’s National Pom and Dance Championships. The girls’ Hip Hop earned a twelfth place finish, and their Pom routine placed sixth in the nation--the highest ranking team from Oklahoma.

What started as a small one-day showcase in nothing more than the High School lobby, YouthArts! – Union’s an-nual showcase of its fine arts programs – has grown into a two-week celebration of Union’s most talented artists. Celebrating its 30th anniversary, YouthArts! ran April 20 through May 2, featuring visual arts at the UMAC, dra-matic performances, great music, and wonderful choirs.

“Moving Up” – or 6th Grade Orientation – was held in July. The fun-filled day was designed to help students overcome the normal anxieties of entering the world of

8

Union Intermediate & High SchoolAthletic Achievement (Cont.)

Teaching & Learning

middle school. Students had a chance to experience Lock-er 101, Cafeteria Drill Squad, Class Changing, a building tour and even meet principals, counselors, and some of the teachers.

Six Tulsa County school districts were among more than 300 commended by State Superintendent Sandy Garrett and the State Board of Education for exceeding the mini-mum required teaching time per year. After criticizing a school-calendar law that took effect in May, the State Board passed a resolution that recognized districts hav-ing more than the minimum 1,050 hours or 175 days of instruction time.

Union agreed to be a part of the Community Agenda for America’s Public Schools, an action plan to ensure that all children enter school healthy, ready to learn and succeed. It prepares students to pursue postsecondary education and become productive family and community members. Key national leaders from education, youth development, community engagement, health and social services, and higher education organizations signed on to a set of strat-egies and solutions enabling communities to support pub-lic education.

Five students successfully completed Union’s workforce development program, “Blueprints for Building Futures,” and all five were recruited to work full-time in construc-tion. The pilot program was an innovative, work-based in-struction option for 18-21 year-olds in Tulsa County seek-ing their high school diplomas or GEDs while acquiring a professional construction-related skill.

More than 230 students tapped into technology to engage in different subjects and meet graduation requirements using the self-paced Apex Learning software. Students worked independently and at their own pace and had the abil-ity to work at home which al-lowed them to proceed even faster according to their needs and desires.

E l i z a b e t h T h o m a n , founder of the Center for Media Literacy in Los Angeles and a 30-year pioneer, teacher, and strategist in media literacy, toured the High School TV studio and was interviewed and filmed by broadcasting students.

The 6th/7th Grade Center welcomed Chinese principal Mr. Qian Xiaobo from Chongqing, China, who shadowed Prin-cipal Steve Pittman and Assistant Principal Dr. Pamela Bradley in February. The visit was sponsored by the China Education Association for International Exchange, China’s nationwide non-profit o r g a n i z a -tion which conducts in-ternational educational exchanges to advance e d u c a -tion and strengthen understand-ing and friendship among people of all countries and regions of the world.

Twenty-eight High School students were served in the new ACE teacher cadet course - a primer in teacher education. Students spent the first three quarters in class learning about the sociology, history, and philosophy of education and the final quarter “student teaching.” The program was sponsored by the Oklahoma Board of Regents and a partnership with NSU Broken Arrow.

EDGE, a summer high school readiness program, was de-signed to give incoming ninth graders an introduction to life in High School while at the same time earning credit towards graduation. Each student who completed all 15 days earned ½ credit towards graduation in either U.S. Government or an elective. In addition to the U.S. Gov-ernment component, they focused on organizational and study skills, high school mathematics preparation, and language arts skills.

Union’s FOCUS program served students in 7th, 8th, and 9th grade with a modified four-class block schedule. Stu-dents received 55 percent more instructional time in math and English with an emphasis on literacy in all classes. Class sizes averaged twenty students per teacher and each FOCUS group was assigned a counselor. The prima-ry objective was to create an environment where students were provided with the necessary support to experience academic success and the necessary skills to proceed aca-demically.

The Williams Companies donated $5,000 each for Union’s annual holiday I-Care program and the after-school ES-CAPE program at the 6th/7th Grade Center. The total

9

Teaching & Learning (Cont.)

Community Contributions

of $10,000 was from the Williams Grassroots Education Grant program, which allows employees to support chari-ties in the communities where they live and work.

Rosa Parks Elementary had approximately 70 QuikTrip volunteers working in the building and in the garden dur-ing September. They helped spruce up the garden area and added some features as part of the district’s Global Gardening program. The volunteers built a pergola and raised beds, built a fence, assembled picnic tables, paint-ed a hop scotch area, built bird feeders and worked inside the school as well.

The Community Ac-tion Project of Tulsa County (CAP) and Union opened the Rosa Parks Early Childhood Education Center in September. The cen-ter provides 12 class-rooms to serve about 200 three-year-olds. The Rosa Parks Early Childhood Education Center is operated by Union in partner-ship with CAP. It is supported by funding from the state of Okla-

homa and private donors, including the George Kaiser Family Foundation, as part of the state’s Pilot Early Child-hood Program, which seeks to enhance and expand high quality early childhood education throughout Oklahoma for children birth through three years of age.

The George Kaiser Family Foundation donated $250,000 to Union’s FOCUS program which provides academic counseling to students in grades 7-10 who need to make marked improvements in math and English. The funds were used to pay for three FOCUS counselors, two teacher aides, administrative expenses, and student incentives and field trip expenses. Union’s Focus on Creating and Understanding Success (FOCUS) program was created in 2007 to provide students with the needed support and structure to assist them to be academically successful.

The High School was awarded a $4,700 grant for a part-nership with Northeastern State University’s College of Education to support projects connected to the ACE teacher cadet program. This project allowed for the “Col-lege Connection” between the students in the ACE pro-gram at Union High School and teacher education candi-dates and faculty in the NSU College of Education.

Clark principal Theresa Kiger was honored by Family and

Children Services for her community involvement during a breakfast where they named her the “You Make a Differ-ence” Community Award winner.

Grove teacher Tiffany Bolding was awarded a $4,521.94 grant from the Tulsa Community Foundation for her “Teach Me to Write Figuratively” program.

State Farm Insurance Co. presented a $5,000 check to the Intermediate High for a service-learning project dealing with the issues of vehicles running red traffic lights and teen driving safety. The presentation coincided with Na-tional Teen Driving Safety Week.

Global Gardens students at Rosa Parks had the oppor-tunity to be a part of a global experience when Safiya-nu Umar, a Nigerian Agricultural Department extension agent, hosted by Emily Oakley and Mike Appel of Three Springs Farms, visited the after-school program.

Luis M. Cruz, presi-dent of the Central Texas Region for Veri-zon Wireless, became principal for a day at Grove after the school was chosen to team with Verizon Wireless.

Peters Elementary accepted a $1,000 check from Coldwater Creek to pay teach-ers for tutoring be-fore and after school in math and reading programs. Coldwater Creek also provided monthly vol-unteers to give individualized assistance for teachers and students. The overall goal of the program was to give back to the communities, both financially and through employee volunteers.

The Assistance League of Tulsa awarded grants to teach-ers through the Betty Bradstreet Endowment Fund. They included Clark principal Theresa Kiger-$1500; Peters teacher Jamie Lazalier-$858.56; Jarman principal Patti Pitcock-$715; Grove teacher Tiffany Bolding-$1000; Jar-man enrichment specialist Jill Fitts-$450; Peters teacher Richelle Breitzke-$1000; Peters media specialist Kay Les-lie-$1000; and High School teacher and debate coach Me-lissa Carrell-$1,220 (matching funds).

Boevers established a partnership with Tee Town Golf and participated in their SNAG (Starting New At Golf) program. Students who demonstrated good behavior through the first quarter were treated to a Good Behavior Party featuring golf lessons.

10

Community Contributions (Cont.)

Grove teacher Tiffany Bolding was selected to attend the Colonial Williamsburg Teacher Institute. She applied for and received The Oklahoma Foundation for Excellence Grant.

The Higher Education Roundtable awarded Jarman principal Patti Pitcock a grant for $225 to purchase pre-kindergarten Commu-nity Helper puppets for the dramatic play center of the class-rooms.

Alternative junior high teacher Kim Unruh was one of 20 teachers in Tulsa County who won a grant from the Arts and Humanities

Council’s Higher Education Cultural Roundtable.

Grove fourth grade teacher Celesta Catcher won a grant from US Cellular through the DonorsChoose program. Her class received a large rug for their “frog pond” themed room.

Intermediate High teacher Cindy Brown received a $500 grant to purchase a pen tablet for her graphics class through US Cellular and the DonorsChoose program.

Six Union teachers received grants from Fund for Teach-ers. Kara Brunk, Janie Evans, and Nicole Miranda (6th/7th Grade Center) were granted a trip to Costa Rica to assist the Ecology Project International in authentic research for the international conservation of sea turtles. Moore teachers Karen Dale and Debbie McClellan won a grant that allowed them to study the genesis of European fairy-tales with a 21-day trip to Germany and Denmark. McAu-liffe’s Lisa Shotts attended summer institutes at Columbia University to develop and enhance the teaching of reading and writing.

Union’s Employee Clinic provided free flu shots and no- or low-cost wellness screenings for all qualifying employees at a number of Union sites in November.

During 2008-2009, Union employed 73 administrators – 57 certified and 16 non-certified and 968 certified teach-ers. Support staff members accounted for another 770 positions, 605 full time and 165 part time. The ethnic diversity among the staff was African-American 4.5%;

American Indian 5.2%, Asian 1.6%, Hispanic 7.2%, Cau-casian and other 81.5%. Three hundred sixty-eight were male and 1,443 female.

At the end of 2008-2009, Union had 59 Nationally Board Certified teachers at 17 schools and 36% of district teach-ing and administrative staff held graduate-level degrees – 348 had master’s degrees and 21 had doctorates.

About 1,200 educators attended a national education con-ference hosted by Union at the Renaissance Tulsa Hotel & Convention Center in July. Sponsored by Solution Tree, a national education organization, the Professional Learn-ing Communities at Work Institute was designed to help educators implement the most promising strategies for improving their schools in substantive ways and helping students learn. This was the third year Union had been a part of the conference and the first year to host it.

In an effort to ensure safety and promote a healthy learn-ing environment, Union worked directly with secondary students to talk about concerns they faced every day and how to deal with them using the S.A.R.A. (Scanning, Analy-sis, Response and Assessment) program. Under S.A.R.A., students identified negative issues that might adversely affect them at school, such as apathy, low self-esteem, peer pressure and so on, and then worked with teachers to develop responses to deal with those issues.

Betsy Glad, a third grade teacher at Cedar Ridge Elemen-tary School, was named a top-12 finalist for the 2009 Oklahoma State Teacher of the Year.

Intermediate High Pre-AP biology teacher Andrea Gaines was named the 2008-2009 Union Teacher of the Year. The Site Teachers of the Year were Sharon Beru-men (Andersen); Lisa Welter (Boevers); Nor-ma Keys (Briarglen); Sarah Worley (Cedar Ridge); DeAnne Fin-ley (Clark); Dana Bun-dy (Darnaby); Deanna Ogez (Grove); Jessica Smith (Jarman); Diana Irick (Jefferson); Mol-

ly Linehan (McAuliffe); Brooke Kasbaum (Moore); Sha-ron Beam (Peters); Cynthia Elliott (Rosa Parks); Rebecka Rhodes (6th Grade); Julie Gardner (7th Grade); Haley Brad-

11

Community Contributions (Cont.)

Employee Statistics

Professional Development

Employee Achievement

ley (8th Grade); Jeff Kennedy (Alternative); and Ginger Swanson (High School).

Moore behavior tech Steven Blades was named the 2009 Support Employee of the Year. The honor was the first time that Union coworkers recognized a support employ-ee across all departments.

Fourteen Union teachers earned National Board Certifica-tion in 2008 including Karen Pearman – Boevers; Aaron Parsons – Darnaby; Paige Bergin, Sharon Ellis, Sonya

Neece, and Sheri Tallman – Jarman; Sue Byrd – Jefferson; Linda Barton – Pe-ters; Dena Chisholm – Rosa Parks; Timi-lyn Downey and Jan Green – 6th Grade; Tammy Ward – 7th Grade; Melissa Under-wood – 8th Grade; and Diana Bjornson – In-termediate High.

High School world his-tory teacher Sandy Thompson contracted with Old American

Publishing to write a regional history book on oil patch communities in the northeastern section Oklahoma titled Boomtowns in the Oil Patch.

Tulsa Advocates for Rights of Citizens named Kem Mor-row Educator of the Year. TARC is affiliated with Tulsa Area United Way as well as the national group for handi-capped citizens’ rights.

High School AP Art and English teacher Janet Purinton was selected as one of 25 nationwide participants for the National Endowment for the Humanities Summer Institute in China. The five-week program included excursions and workshops as well as opportunities to develop classroom curriculum with Professor Annette Juliano, a renowned art historian at Rutgers University and Dr. Hsin-Mei Agnes Hsu, Director of Education and Dean of the Confucius In-stitute, both renowned specialists in Asian art.

Alternative teacher Harriet Chenault was a cast member of “Hannah and Martin” which advanced to regional com-petition in the American Association of Community The-atre.

Intermediate High teacher Leland Newton was selected as one of 185 science teachers from around the nation to take part as Fellows in the 2008 NSTA New Science Teach-er Academy. The National Science Teachers Association

(NSTA) is the largest professional organization in the world promoting excellence and innovation in science teaching and learning.

Jeff Murry, web and video instructor at the Intermediate High, won The Writing Teacher Tips and Techniques Con-test. The online contest asked teachers to submit a tip for helping students in the writing process. Murry’s tip was a short video on using the Internet to help engage students in the writing process.

Boevers teachers Jacque Wiles and Karen Pearman were selected for the State Superintendent’s Master Teachers Project. Wiles’ focus was on elementary language arts and reading, and Pearman’s focus was on social studies. Both participated in professional development, facilitated book study groups, and served on a regional conference plan-ning committee.

Cedar Ridge Elementary won third place in the large divi-sion for third highest API in the category of large schools for Academic Performance Index (API) scores in a contest sponsored by the State Department of Education. Quali-fied teachers received a $1,000 bonus.

Grove fifth grade teacher Tiffany Bolding was selected by State Superintendent Sandy Garrett to participate in the Master Teachers Project sponsored by the OK Department of Education.

Jarman fifth grade teacher Denise Thom-as was named one of two state finalists for the Presidential Award for Excellence in Teaching of Sci-ence. One of the high-est honors a teacher can receive is be-ing named a finalist for the Presidential Award for Excellence in Mathematics and Science Teaching.

Jarman fifth grade teacher Paige Bergin was selected as Oklahoma’s Out-standing Teacher in Mathematics at the elementary level by the Oklahoma/Arkansas Section of the Mathematical Association of America (OK-AR MAA).

Jarman teachers Paige Bergin, Kristin Henness, and Jes-sica Smith were chosen from this area for the State De-partment of Education’s Master Teacher Project for Pro-fessional Development.

McAuliffe first grade teacher Kim Dyer and her son, Lane, published their first book together – Lane’s Imagination. Lane not only helped write the story but also illustrated

12

Employee Achievement (Cont.)

two of the pictures in the book. The story is about a boy who never gets bored because he uses his imagination to draw adventures that seem to come to life.

Peters media specialist Kay Leslie was selected to attend the George Washington Teachers Institute in Mt. Vernon, Virginia, during July.

Superintendent Dr. Cathy Burden was named a recipient of the prestigious Whitney M. Young Jr. Service Award by the Indian Nations Council of the Boy Scouts of America. In keeping with the spirit of Young, a prominent social re-former and civil rights leader who worked to improve the lives of young African Americans, Burden was honored for her dedication and commitment to improving Tulsa’s workplace and community environment. The national award is designed to recognize “unsung heroes”—people who do exceptional service for disadvantaged youth.

Union’s Finance Division was recognized by two finance associations and the State Department of Education for its financial reporting. The state awarded a Certificate of Achievement for Excellence in Annual Financial Reporting to Union for the school year ending June 30, 2008, giving Union a perfect 100-percent score.

The Certificate of Excellence in Financial Reporting by the Association of School Business Officials International and the Certificate of Achievement for Excellence in Finan-cial Reporting by the Government Finance Officers Asso-ciation were given to Union Public Schools. This was the sixteenth consecutive year for Union to earn the national distinctions from both of these agencies. (See certificates on pages 23-24.)

Student Assistance Program Coordina-tor Danny Williams was honored by the City of Broken Arrow with a proclama-tion in his honor for his “philanthropy and acts of kindness” to help make Bro-ken Arrow a greater city and “improving the lives of countless others.”

Treasury clerk Bernice Tharps won honors at the National Soul Food Cook-off in Oklahoma City. Tharps won first place on pork roast, first on booth decoration, third place on black-eyed peas and on BBQ sauce.

Fifty ecologically-minded employees responded to a Twelve Days of Green Up campaign by sending in ideas for the Green Up committee to consider. Six practical sugges-tions to make Union more ecologically responsible were highlighted by the committee. The ideas were a combina-tion of short-term plans that could lead to immediate con-servation and suggestions for long-term energy savings that might take a while to incorporate into building plans

for the district. Winners were Paige Bergin (Jarman), Ju-lie Gateley (McAuliffe), Andrea Holcomb (ESC), Rebecca Morales (IHS), Beverly Thummel (ESC), Tamara Pittman (HS), and Susan Weavel (Grove). They were honored with a tree-planting ceremony in Central Park at Union.

Senior students at the Oklahoma School of Science and Mathemat-ics honored their favor-ite hometown teachers during a special rec-ognition ceremony. Intermediate teachers Debbie Mooney and Donna Hardway were honored by Grace Kim and Jackson Autrey respectively, and Clark teacher Edith Wilson was honored by Ding Ren.

Varsity football coach Kirk Fridrich was named All-Metro Coach of the Year.

Union coaches named OCA Region 7 Coaches of the Year included Rudy Garcia (boys’ basketball), David Lynn (swimming), Kevin Gannon (tennis), Steve Dunlap (wres-tling), and Art Davis (Junior High Coach of the Year).

The Basketball Booster Club honored Joel Hartman with their first annual “Fan of the Year” award. Mr. Hartman became a fan and a regular attendance fixture after mak-ing friends with Union students when they visited Wood-land Terrace Retirement Community for the annual “se-nior prom” coordinated by High School Leadership stu-dents. He said he not only enjoyed watching the growth and development of both the girls’ and boys’ teams, he also appreciated the character, sportsmanship, and integ-rity displayed by both the student-athletes and coaches.

The Union Schools Education Foundation distributed 44 grants totaling $32,332.16 to 47 teachers at 15 of the district’s 18 sites. The classroom grants ranged from $121.19 to the maximum amount of $5,000.

Union and its Parent-Teacher Association became the first in Oklahoma to launch “Be There,” a national multi-media campaign to persuade parents to find opportuni-ties to connect with or to “be there” for their kids on a daily basis. The PTA used posters, videos, and flyers to spread the message to parents in the district and beyond. Kids who have adults who are there for them, do better in school and in life.

13

Employee Achievement (Cont.)

Parent Support

Toward the end of summer, Clark teachers went door-to-door to visit every Clark student, all 550 of them. They gave each student a backpack, pencil, magnet, and infor-mation regarding school supplies, meet the teacher times, bus stops, and the first day of school. The staff at Clark Elementary showed how to ‘Be There’ for its community when it hosted a neighborhood block party at the Salida Creek Apartments with free food and drinks, and fun for all. Principal Theresa Kiger was recognized by Family and Childrens Service for community service that “makes a difference.”

Eighth Grade FOCUS students asked the school to ‘have a heart’ in February by sponsoring a canned food drive competition through fourth hour classes. Each canned food item was worth one point and each boxed item was worth a half point. The class that collected the most items received a pizza party.

Peters’ Student Council raised $289 for the “Nothing But Nets” program. The money raised provided mosquito nets for children in refugee camps in Africa through a program administered by the United Nations.

Members of the varsity b a s e b a l l team visited the John 3:16 mis-sion to help serve meals.

U n i o n ’ s quarterback coach Josh B l a n k e n -ship accepted a second place plaque and a laptop com-puter from The Salvation Army’s 2008 Red Kettle Drive on behalf of the football team. The team also won the High School 8-Hour “Ring-a-Thon” competition for their efforts to raise money for the community.

Union was nominated for the prestigious Sun Award giv-en by the Tulsa Area United Way to an organization with the overall best campaign, participation, and volunteers. Union employees, students, and patrons donated $167,366 which exceeded its goal and represented an eight-percent increase over the previous year’s total amount. The num-ber of Key Club Donors ($500 or more) was 89.

Students at the Intermediate High and the 6th/7th Grade Center walked to raise money for the Union I Care pro-gram. I Care’s goal was to raise $32,000 to aid 753 fami-lies and purchase gifts for 1,535 district children.

The Moore Student Council raised the most of any

school in the area for the Make-A-Wish Foundation with $5,149.97.

The Union/Jenks “Save a Life Summer” blood drive col-lected 557 units toward the 1,000-pint total goal which translated into as many as 1,650 lives af-fected.

Union teachers and staff members also pitched in for the Tul-sa Area United Way Day of Caring - a day in which they did yard work at Temple Israel and prepared client-made holiday greeting cards for sale at the Bridges Foundation.

Union Redskins foot-ball players teamed up with the Down Syndrome Association of Tulsa (DSAT) to present First Downs for Down Syndrome — a national fund-raising program started by the Kansas City Chiefs. All monies raised provided disability awareness materials to area schools. Down syndrome acceptance and aware-ness is close to the hearts of the Redskin football team — one of the young men serving as its equipment manager was born with Down syndrome.

Union came together once again for the annual “I Care” Holiday Project, benefiting hundreds of families and chil-dren during the holiday season. The project was made possible by a cadre of volunteers and students in the Drug-Free Youth program, as well as many people and businesses who donated time and money.

Web site improvements, facility dedications, enhanced publications, a larger publicity network, and changes to the Union Football Coach’s Show highlighted 2008-2009 in the Communications Department.

Collaborating with the Information Technology and Teach-ing/Learning Departments, Communications launched teacher web pages. These enabled Union teachers to post their photos and professional biographies; classroom phone numbers and e-mail addresses; daily schedules and projects; and other helpful information. The other major change to the district web site was modification of the Employee Network (formerly known as the InTRAnet) to allow employee log-in access from any computer, not just school or office computers.

The department assisted with planning and created invita-tions, programs, and publicity materials for the Jefferson

14

Community Service

Communications

Elementary School and Central Park at Union dedication ceremonies. It provided similar services for the 30th An-niversary Fine Arts Celebration, and coordinated publicity for Union’s Air Force Junior ROTC appearance in the Presi-dential Inaugural Parade in Washington D.C.

Communications created successful information cam-paigns for the Union Green-Up conservation effort; the Feb-ruary 2009 bond election; and the Union Collegiate Acad-emy pilot program. With each of these came new flyers and brochures, electronic phone messages, on-hold messages, videos, speaking engagements, and media coverage.

R e g a r d -ing media c o v e r a g e , C o m m u -n i c a t i o n s Representa-tives from school sites, district de-partments and booster clubs pro-vided more than 100

news stories or tips and some 3,000 photographs every month! Union was in the local news approximately 425 times throughout the year, and of that coverage, 56 per-cent was considered to be positive; seven percent nega-tive, and 37 percent neutral.

Winnercomm, a sports production company, donated a news set to Union High School for its television studio, giving the Union Football Coach’s Show a new look. The addition of the Inside Union segment, a short video featur-ing outstanding Union students and/or programs, broad-ened the show’s appeal. A partnership with Radio Station 97.1 FM The Sports Animal brought new host Kevin Ward to the show and landed Union’s game broadcasts, which were previously on KRMG Radio, on The Sports Animal.

During 2008-2009, the Information Technology depart-ment completed 11,276 work orders. More than 60% of those were completed remotely by the three technicians in the solution center while the end user was on the phone with them.

The IT department completed several projects funded by the 2008 bond issue including installation of all computer and networking equipment for the new Jefferson Elemen-tary; upgrade of labs with new computer systems at the Sixth & Seventh Grade, the Eighth Grade, the Intermediate

High and the High School; replacement of all secondary student files servers (4); installation of hardware and soft-ware for the Safari Montage Video-on-Demand systems at all schools; upgrade of 300 teacher and administrator computer systems; and installation of the new media cen-ter program (Destiny) at all schools.

In cooperation with the Operations De-partment, 120 SMART Interactive white boards were installed at all sites; new phone systems were installed at Cedar Ridge and Jarman; and two Intel-ligent Science Class-rooms were remod-eled and installed.

IT teamed with Stu-dent Assessment for the installation of 650 laptops for end-of-in-struction (EOI) testing in the spring and for use the rest of the year by each site for instruction.

The new student/parent/employee calling system, (Con-nect-ED), was installed and used extensively throughout the year to inform parents and employees of school clos-ings and important events.

Over the summer, the hard drives on all student comput-ers (3,100) were erased and re-imaged. The computers were then re-named and re-joined to the network.

Union Public Schools is located within the Tulsa Metro-politan Statistical Area (MSA), a seven county area whose population exceeds 905,755 or 25.1 percent of the popu-lation of the state of Oklahoma. The Tulsa Metropolitan Chamber of Commerce reports Tulsa’s major industries as aerospace, transportation and logistics; advanced manufacturing and services; health care; IT and telecom-munications; petroleum and natural gas; architectural and structural metal manufacturing. The Chamber estimates the value of all goods and services produced in the Tulsa MSA as $33.6 billion, or 29 percent of the Oklahoma econ-omy. Forbes Magazine in 2008 ranked Tulsa fifth high-est among the 200 largest metro areas in the country to weather a recession. Tulsa offers a low cost of doing busi-ness at seven percent under the U.S. average due to low rent, energy costs, and taxes. Other qualities that attract new growth are Tulsa’s sound infrastructure and low cost of living. Tulsa has not experienced the same reduction in the housing market caused by the mortgage/ housing crisis as the rest of the country. An October 2009 arti-

15

Communications (Cont.)

Technology

Economic Condition & Outlook

cle in Business Week ranked Tulsa as having the seventh strongest metro economy in the United States, crediting a solid housing market as one of the criteria for the city’s success (see Statistical Section on pages 95-96 for addi-tional demographic details).

However, the ongoing turmoil in the national and international fi-nancial markets does have an effect on the area’s economy. The Office of the State Treasurer reports that the state ended its fis-cal year with revenues below projections due to a decline in gross production taxes on oil and natural gas, a reflection of low prices of these com-modities. These lower oil and gas prices will

continue to negatively affect state revenues in the cur-rent year as the state feels the impact of slower revenue streams and rising operating costs.

The unemployment rate in the Tulsa MSA declined to 4.1 percent in 2007, then continued a decline to a 2008 level of 3.8 percent. However, the Tulsa Metropolitan Chamber of Commerce projects the 2009 unemployment rate to in-crease to 5.1 percent. It also projects that the rate will fluctuate between 4.8 and 5.5 percent through 2012 as the impact of the current national economic event filters through Oklahoma. Union Public Schools contributes to Tulsa’s workplace initiatives by offering community pro-grams for both adults and children such as:

* Adult Basic Education – classes for adults who need basic instruction in reading, writing, math, and life skills,

* Workplace Education – links education goals to the employ- er’s desire for high performance work and product quality, * G.E.D. Preparation – instruction to prepare adults to take the Tests of General Educational Development (G.E.D.),

* English as a Second Language – instruction to non- English speaking adults to help them be productive citizens of our community.

The district continues to be a leader in healthcare ini-tiatives. A joint effort between University of Oklahoma School-Based Bedlam Clinic and Union Public Schools pro-duces cutting-edge services for the Union community. The Union Public Schools Bedlam School-Based Health Clinic operates at both Roy Clark Elementary School, and Rosa

Parks Elementary School. These clinics provide a conve-nient way for students to receive a wide range of health care services. They operate at no cost to the school dis-trict. The primary goal of the clinics is to serve the fami-lies of all children in each of the schools, including those who qualify for Medicaid or have no health insurance. The school clinics provide at least one full-time physician’s as-sistant or a resident physician. In addition, a pediatrician visits each school clinic as part of a rotating schedule. The physicians work with and assist school nurses.

In addition to student healthcare, Union partners with the University of Oklahoma Physicians-Tulsa to provide low cost medical services for its employees through an em-ployee clinic. This unique partnership provides access to quality healthcare while controlling escalating healthcare costs. The clinic is staffed by a fully-licensed OU physi-cian, a physician assistant and a licensed practical nurse. Even some pharmacy services are available.

Union has experienced significant growth in student en-r o l l m e n t . During the 2000-2001 school year, the district r e c o r d e d total en-rollment of 13,054. In 2008-2009, enrollment r e a c h e d 14,658. The administra-tion projects enrollment in the 2009-2010 school year to reach more than 15,000 students with the continuation of the four-year-old program to every elementary site and the three-year-old program, serving approximately 1,109 students in both programs. A steady yet moderate growth is forecast through 2010. Additional enrollment details may be found in the Statistical Section of this CAFR.

To accommodate this growth in student population, the district maintains over 2.5 million square feet of facilities, including thirteen elementary schools (grades pre-kin-dergarten-five), a Sixth/Seventh Grade Center, an Eighth Grade Center, an Intermediate High School (grades 9-10), an Alternative School serving both middle school and high school students, a High School (grades 11-12), and an Edu-cation Service Center. The district’s newest construction includes an early childhood center which opened in the fall of 2008. Please refer to the Statistical Section of this CAFR for additional facility details.

16

Economic Condition & Outlook (Cont.)

Enrollment

Facilities

On February 10, 2009, district voters overwhelmingly ap-proved a $20-million bond proposal which included funds for phase II of the baseball/softball complex; performing arts center upgrades, furniture; acquisition of textbooks, media books and instructional hardware/software; and building repairs and renovations to sites districtwide. Other equally crucial items on the ballot included text-books and classroom materials; library books; instruction-al equipment; technology, operations equipment, security cameras and equipment, building repairs and renovations to sites districtwide.

During the 2008-2009 school year, Union received more than $9.3 million in federal grant money. Grants were used to fund such programs as drug education, special education, professional development, remedial programs, enrichment programs in math and reading, and supplies and materials.

The dis-trict’s child n u t r i t i o n program re-ceived more than $2.8 million in federal and state mon-ey. Approx-imately 42% of Union’s s t u d e n t s were eligible for free or reduced meals.

The American Recovery and Reinvestment Act of 2009 (ARRA) appropriated significant new funding for pro-grams under the Individuals with Disabilities Education Act (IDEA) and under Title I. The overall goals of the ARRA funds are to stimulate the economy in the short-term and invest in education and other essential public services to ensure the long-term economic health of our nation. ARRA funds were distributed quickly to states and other entities in order to avert layoffs and create jobs. Union Public Schools received in excess of $2.3 million of ARRA funds for 2008-2009.

Management of the district is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the district are protected from loss, theft or misuse and to ensure that adequate account-

ing data is compiled to allow for the preparation of fi-nancial statements in conformity with generally accepted accounting principles (GAAP). The internal control struc-ture is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that 1) the cost of a con-trol should not exceed the benefits likely to be derived; and 2) the valuation of costs and benefits requires esti-mates and judgments by management.

The Board of Education of Union Public Schools, in con-junction with the Superintendent and Chief Financial Offi-cer, establishes a sys-tem of sound financial planning and manage-ment to assure that the district’s objec-tives are addressed and that funds are ex-pended in accordance with plans expressed through the Board budget. The financial management system components include: 1) a planning pro-cess that consists of a review of state stat-utes, Board policies, concepts, ideas, prob-lems, constraints, approaches and systems before dollar amounts are established in the budget; and 2) a budget that is the expression of the plans of the Board through three main budgets – the General Fund, a Special Revenue Fund and the Child Nutrition Fund.

The district utilizes budgetary controls to ensure compli-ance with legal appropriation limitations and to provide an operating plan for the district’s resources. The annual appropriated budget includes activity of the General, Spe-cial Revenue Funds and Child Nutrition Funds. Capital projects activity is controlled with approval of project-length financial plans. Initial budgets are adopted at the beginning of the fiscal year with periodic amendments ap-proved by the Board as necessary.

The level of budgetary control is maintained by fund, proj-ect, and function. Individual line items may be adjusted without Board action, but total budgeted expenditures may not exceed appropriations at the major fund level without Board approval. The district utilizes an encum-brance system as a technique of budgetary control with encumbered appropriations lapsing at year end.

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Bond Funds

Grants/Federal Programs

Internal Control

Long-Term Financial Planning

Budgetary Controls

district to include the right of the district to acquire build-ings, equipment or other facilities or improve school sites through such an agreement. It also authorizes a district to use proceeds for the sale of bonds, as authorized under the Oklahoma Constitution, for lease-purchase payments.

In closing, without the leadership and support of the Union Board of Education, preparation of this report would not have been possible.

Sincerely,

Catherine E. Burden, Ph.D.Superintendent

Debra J. Jacoby, CPAChief Financial Officer/Treasurer

Catherine L. Smart, CPADirector of Financial Reporting/Treasurery

Gail Easterling, CPADirector of Accounting

Oklahoma state statutes require an annual audit by in-dependent certified public accountants. The accounting

firm of Cole and Reed, LLP, was selected by the Board to conduct the audit. In addi-tion to meeting the requirements set forth in state statutes, the audit was also de-signed to meet the re-quirements of the Fed-eral Single Audit Act of 1984 and related OMB Circular A-133. The auditor’s report on the basic financial statements is included in the financial section of this report.

Major initiatives that were enacted as a result of the 2009 Oklahoma Legislative Session included:

HB 1837: Inner City Schools Rescue Program – authorizes the Oklahoma Commission for Teacher Preparation to es-tablish a program to recruit and train teachers to work in inner city schools and provide technical assistance and support to those teachers.

HCR 1004: Internet-Based Education Administration Task Force – creates a task force to study the issues related to the administration of Internet-based courses and curricu-lum in pub-lic schools.

HB 1592: Surety Bond – requires any super-i n t e n d e n t or financial officer who has super-vision of or a u t h o r i t y to expend school district funds to be required to furnish a surety bond of not less than $100,000. The bill also requires any lease-purchase agreement entered into by a school

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Independent Audit

Closing

Major Initiatives

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Board of Education2008-2009

Name Office Seat Term of Office

Scott McDaniel President 4 2009-2014 Jeff Bennett Vice President 1 2006-2011 Ross Ford Clerk 2 2007-2012 Heather McAdams Member 3 2008-2013 Ed Payton Member 5 2005-2010

Administration2008-2009

Cathy Burden, Ph.D. - SuperintendentDebra Jacoby, CPA - Chief Financial Officer/Treasurer

Kirt Hartzler, Ed.D. - Asst. Superintendent for Teaching & LearningJarod Mendenhall - Asst. Superintendent for Support Services

Charlie Bushyhead - Executive Director of Secondary EducationKathy Dodd, Ph.D. - Executive Director of Elementary EducationGretchen Haas-Bethell - Executive Director of Communications

Lee Snodgrass - Executive Director of TechnologyCynthia Solomon - Executive Director of Human Resources

Jackie White - Executive Director of Pupil Accounting/Grants

Steve Dunlap - Director of AthleticsGary Greenhill - Director of Transportation

Penny Kay, Ed.D. - Director of Special EducationCathy Smart, CPA - Director of Financial Reporting/Treasury

Ed Tackett - Director of Fine Arts

Michelle Bergwall - Director of ConstructionChuck Chapman - Director of Maintenance Services

Susan Crowder - Director of Federal ProgramsDrew Diamond - Director of Security

Gail Easterling, CPA - Director of AccountingChuck Hanna - Director of Evening & Summer Academy

Joanna Jamison - Director of Adult & Community EducationSarah McBryde - Director of Marketing

Lynn McClure - Director of Early Childhood CenterLisa Neal, CPA - Director of Payroll

Tim Neller - Director of Child NutritionTodd Nelson - Director of Student Assessment

Lisa Witcher - Director of Professional DevelopmentHassan Yekzaman - Director of Facilities Services

David Young - Director of Purchasing & Supply Management

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Superintendentof

Schools

Board of Education

Chief Financial Officer/Treasurer

Asst. Supt. forSupport Services

Executive Director ofCommunications

Exec. Dir. for SecondaryTeaching & Learning

*Executive Director of Human Resources

*Executive Director of PupilAccounting/Grants

*Director of Financial Reporting/Treasury

*Director of Accounting*Director of Payroll

*Secondary Principals/Assistants*Summer/Evening Academy

*Executive Director ofTechnology

*Director of Facilities *Director of Maintenance *Director of Child Nutrition*Director of Transportation*Director of Construction*Director of Purchasing*Director of Marketing*Director of Security

Union Public Schools

Administrative Organizational Chart

Exec. Dir. for ElementaryTeaching & Learning

*Elementary Principals/Assistants*Director of Federal Programs

2008-2009

*Director of Special Education*Director of Fine Arts*Director of Athletics*Director of Professional

Development*Director of Early Childhood*Director of Adult/Community

Education*Director of Student Achievement

Asst. Supt. forTeaching & Learning

Independent Auditors’ Report To the Board of Education Union Public Schools Tulsa, Oklahoma We have audited the accompanying financial statements of the governmental activities, business-type activities, and each major fund of Union Public Schools (the “District”) as of and for the year ended June 30, 2009, which collectively comprise the District’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the District’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, and each major fund of the District, as of June 30, 2009, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparisons for the General Fund and the Building Fund, for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Management’s Discussion and Analysis on pages 25 through 36 and the Schedule of Funding Progress for Other Post Employment Benefits on page 70 are not required parts of the basic financial statements but are supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of supplementary information. However, we did not audit the information and express no opinion on it.

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Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s basic financial statements. The combining and individual nonmajor fund financial statements and other schedules, listed in the table of contents as Combining Schedules and Capital Assets Used in the Operation of Governmental Funds, respectively, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly presented, in all material respects, in relation to the basic financial statements taken as a whole. The accompanying Introductory and Statistical sections, as listed in the table of contents, have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them.

Oklahoma City, Oklahoma December 3, 2009

The Management’s Discussion and Analysis of Union Public School District’s financial performance provides a narrative overview of the district’s financial activities for the fiscal year ended June 30, 2009. The intent of this discussion and analysis is to look at the district’s financial performance as a whole. Readers should also review the transmittal letter, notes to the basic financial statements, and supplementary information to enhance their understanding of the district’s financial performance. Financial Highlights

Key financial highlights for fiscal year 2009 are as follows:

» In total, net assets increased $5.03 million. Net assets of governmental activities increased $4.53 million which represents a 3.4 percent increase from fiscal year 2008.

» Net assets of business-type activities increased $498,444 or 20.1 percent from fiscal year 2008.

» General revenues accounted for $95.53 million in revenue or 77.6 percent of all revenues. Program specific revenues in the form of charges for services and sales, grants and contributions accounted for $27.57 million or 22.4 percent of total revenues of $123.09 million.

» The district had $113.43 million in expenses related to governmental activities; only $22.45 million of these expenses were offset by program specific charges for services, grants or contributions. Expenses are shown in programs that are easily identifiable utilizing the current Oklahoma Cost Accounting System (OCAS) coding structure.

» Among the major funds, the general fund had $94.90 million in revenues, $91.74 million in expenditures, and $441,975 in transfers into the fund resulting in a fund balance increase of $3.60 million. The building fund had $3.59 million in revenues, $4.31 million in expenditures, and $434,125 in transfers into the fund yielding a fund balance decrease of $286,140. Bond fund revenues totaled $241,592 and bond sale proceeds were $20.0 million. Expenditures in the bond fund totaled $20.82 million. The sinking fund had $18.93 million in revenues and $17.61 million in expenditures.

» Net assets for the child nutrition enterprise fund increased $498,444. This increase resulted from operating revenues of $2.10 million and nonoperating revenues of $3.03 million exceeding operating expenses of $4.63 million.

Overview of the Financial Statements

This Comprehensive Annual Financial Report (CAFR) consists of a series of basic financial statements: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. Other supplementary information is included in addition to the basic financial statements. These statements are organized so the reader can understand Union Public School District as a financial whole, an entire operating entity. The statements then proceed to provide an increasingly detailed look at specific financial activities.

Government-wide financial statements. The government-wide financial statements are designed to provide information about the activities of the district as a whole, presenting both an aggregate view of the district’s finances and a longer-term view of those finances.

The Statement of Net Assets presents information on all of the district’s assets and liabilities, with the difference between the two reported as net assets.

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The Statement of Activities presents information showing how the district’s net assets changed during fiscal year 2009.

While this document contains the large number of funds used by the district to provide programs and activities, the view of the district as a whole looks at all financial transactions and asks the question, “How did we do financially during 2009?” The Statement of Net Assets and the Statement of Activities answer this question. These statements include all assets and liabilities using the accrual basis of accounting similar to the accounting used by most private-sector companies. This basis of accounting takes into account all of the current year’s revenues and expenditures regardless of when cash is received or paid.

These two statements report the district’s net assets and changes in those assets. This change in net assets is important because it tells the reader that, for the district as a whole, its financial position has improved or diminished. The causes of this change may be the result of many factors—some financial, some not. Non-financial factors include the district’s property tax base, current property tax laws in Oklahoma restricting revenue growth, facility conditions, mandated educational programs, and other factors.

The Statement of Net Assets and the Statement of Activities are divided into two distinct types of activities:

» Governmental activities—most of the district’s programs and services are reported here, including instruction, support services, operation and maintenance of plant, pupil transportation, and extracurricular activities.

» Business-type activities—these goods or services are provided on a fee basis to recover all of the expenses of the goods or services provided. The district’s child nutrition program is reported as a business-type activity.

The government-wide financial statements can be found beginning on page 37.

Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Union Public School District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds can be divided into three categories: 1) governmental funds, 2) proprietary funds, and 3) fiduciary funds.

Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the district’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the district’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison.

Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, the building fund, the sinking (debt service) fund and the bond fund, all of which are considered to be major funds. A summary of the district’s major funds can be found in Note A of the notes to the financial statements beginning on page 51 of this report.

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The basic governmental fund financial statements begin on page 41 of this report.

Proprietary Funds. Proprietary funds use the same basis of accounting as business-type activities. The basic proprietary fund financial statements begin on page 46 of this report.

Fiduciary Funds. Fiduciary funds are not reflected in the government-wide financial statement because the resources of those funds are not available to support the district’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund financial statements begin on page 49 of this report.

Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found beginning on page 51 of this report.

Other information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the district.

Government-Wide Financial Analysis

Recall that the Statement of Net Assets provides the perspective of the district as a whole.

Table 1 provides a summary comparison of the district’s net assets for fiscal years 2009 and 2008:

Table 1Net Assets

(In Millions)

2009 2008 2009 2008 2009 2008AssetsCurrent Assets $ 75.26 $ 72.96 $ 2.71 $ 2.12 $ 77.97 $ 75.08Noncurrent Assets Capital Assets, net 118.54 110.16 0.47 0.50 119.01 110.66 Other Assets 22.65 24.05 0.00 0.00 22.65 24.05Total Assets 216.46 207.17 3.17 2.62 219.63 209.79

Liabilities Current Liabilities 26.99 27.67 0.19 0.14 27.36 27.81 Noncurrent Liabilities 52.41 46.97 0.00 0.00 52.23 46.97Total Liabilities 79.40 74.64 0.19 0.14 79.59 74.78

Net Assets Invested in Capital Assets, Net of Related Debt 121.64 118.53 0.47 0.50 122.11 119.03 Restricted for Debt Service 9.80 8.73 0.00 0.00 9.80 8.73 Restricted for Capital Projects 2.18 2.59 0.00 0.00 2.18 2.59 Unrestricted 3.44 2.67 2.52 1.98 5.96 4.66Total Net Assets $ 137.06 $ 132.52 $ 2.98 $ 2.48 $ 140.05 $ 135.01

Governmental Activities Business-Type Activities Total

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Total assets were $219.63 million. Cash and cash equivalents were $39.48 million. Investments totaled $34.35 million. Capital assets net of depreciation were $119.01 million. Taxes and other receivables were $3.40 million. Net assets of the district’s governmental activities increased by $4.53 million. This increase is primarily attributable to increases in student growth, state and local funding sources and current ad valorem collections, which affect the general fund, building fund and sinking fund. The district was able to increase its ending fund balance percentage in the general fund to 13.99 percent on a budgetary basis, which placed it in a favorable operating position to weather the economic downturn. The district will continue to monitor state revenue projections and market conditions to anticipate circumstances that may warrant changes in spending in the next fiscal year.

The net assets of the district’s business-type activities increased by $498,444. Analysis of the child nutrition activity indicates that it should remain stable and self-supporting.

Governmental Activities. As reported in the Statement of Activities on beginning on page 38 the cost of the district’s governmental activities for the year ended June 30, 2009, was $113.43 million. However, not all of this cost was borne by the taxpayers. Of this amount, $2.11 million was paid by those who used or benefited from the services rendered (e.g., charges for before and after school care and summer school tuition), and $20.34 million was paid through various federal and state grants and contributions. Consequently, the net cost of $90.98 million, after taking into consideration these fees and subsidies, was paid by the taxpayers, unrestricted federal and state aid, and other general revenues.

Graph 1 below illustrates the cost of services in the district’s three largest programs -- instruction, support services, and food services. The graph compares the cost of the services with the revenues generated by the program.

Graph 1 - Program Revenues and Expenses

$63,851,000

$5,119,554 $7,611,278 $14,839,575

$49,579,991

$4,634,620 $-

$10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000

Instruction Support Services Food Services

Program Revenues Expenses

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Table 2 provides a summary comparison of the district’s change in net assets for the fiscal years 2009 and 2008:

Table 2Changes in Net Assets

(In Millions)

Governmental Activities Business-Type Activities Total

2009 2008 2009 2008 2009 2008RevenuesProgram Revenues: Charges for Services $ 2.11 $ 1.91 $ 2.10 $ 1.85 $ 4.21 $ 3.76 Operating Grants and Contributions 20.34 14.60 3.02 2.58 23.36 17.18 Capital Grants and Contributions 0.00 0.00 0.00 0.00 0.00 0.00General Revenues: Property Taxes 49.61 47.45 0.00 0.00 49.61 47.45 Other Taxes 5.20 5.02 0.00 0.00 5.20 5.02 State Aid Not Restricted to Specific Programs 39.99 37.30 0.00 0.00 39.99 37.30 Other Taxes 0.72 2.91 0.01 0.05 0.73 2.96Total Revenues $ 117.97 $ 109.19 $ 5.13 $ 4.48 $ 123.10 $ 113.67

ExpensesInstruction: Regular Instruction 49.63 45.52 0.00 0.00 49.63 45.52 Special Education Instruction 7.28 6.79 0.00 0.00 7.28 6.79 Vocational Education 0.79 0.70 0.00 0.00 0.79 0.70 Other Instruction 6.15 6.13 0.00 0.00 6.15 6.13Support Services: Pupil Services 6.35 6.52 0.00 0.00 6.35 6.52 Instructional Staff Services 4.41 4.17 0.00 0.00 4.41 4.17 General Administration Services 1.80 1.58 0.00 0.00 1.80 1.58 School Administration Services 7.69 7.44 0.00 0.00 7.69 7.44 Business Services 6.94 6.33 0.00 0.00 6.94 6.33 Operations & Maintenance Services 13.33 13.11 0.00 0.00 13.33 13.11 Pupil Transportation Services 3.77 3.65 0.00 0.00 3.77 3.65 Other Support Services 0.37 0.25 0.00 0.00 0.37 0.25Community Services 2.80 0.97 0.00 0.00 2.80 0.97Capital Outlay 0.51 2.09 0.00 0.00 0.51 2.09Interest on Long-Term Debt 1.61 1.97 0.00 0.00 1.61 1.97Food Services 0.00 0.00 4.63 4.50 4.63 4.50Total Expenses $ 113.43 $ 107.23 $ 4.63 $ 4.50 $ 118.07 $ 111.74

Change in Net Assets 4.53 1.96 0.50 (0.02) 5.03 1.93Net Assets, Beginning 132.52 130.57 2.48 2.51 135.01 133.08Net Assets, Ending $ 137.06 $ 132.52 $ 2.98 $ 2.48 $ 140.04 $ 135.01

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Total governmental revenues were $117.97 million. Graph 2 illustrates the components of this revenue. Governmental activities increased the district’s net assets by $4.53 million, thereby accounting for a majority of the growth in the net assets of the district.

Instruction comprised 56.29 percent of governmental program expenditures. Support services expenditures made up 43.71 percent of governmental expenditures. Graph 3 illustrates the components of the expenses in the governmental activities.

The increase in student instructional services expenses represents, in large part, the district’s multi-year plan to prioritize instructional services to address such issues as class size, curriculum development, and negotiated teacher raises.

Graph 2 - Governmental Activities - Revenue by Source

State Aid, $39,992,313

Other, $719,569

Other Taxes, $5,196,047 Property Taxes, $49,606,362

Charges for Services, $2,106,012

Operating Grants & Contributions, $20,344,841

Other Operating Grants & Contributions Property Taxes Other Taxes State Aid Charges for Services

Graph 3 - Governmental Activities - Expenses

Instruction, $63,851,000

Other, $367,950

Business Services, $6,937,956

Administration Services, $9,490,625

Operations/Maintenance, $13,334,079

Pupil Transportation, $3,771,826

Pupil Services, $6,345,355

Community Services, $513,383

Interest on Long-Term Debt, $1,608,283

Capital Outlay,

$2,801,866

Instructional Staff Services, $4,408,668

Pupil Services Instructional Staff Services Administration Services Business Services Operations/Maintenance Pupil Transportation Capital Outlay Interest on Long-Term Debt Community Services Other Instruction

The increase in student instructional services expenses represents, in large part, the district’s multi-year plan to prioritize instructional services to address such issues as class size, curriculum development, and negotiated teacher raises.

Business-Type Activities. Business-type activities consist of child nutrition services. This program had operating revenues of $2.10 million, nonoperating revenues of $3.02 million, and expenses of $4.63 million for fiscal year 2009.

The increase in Child Nutrition expenditures reflects additional student growth as well as an increase in the cost of food. The Child Nutrition fund ended the year in a positive financial condition. Management has reviewed this program and, barring any unforeseen problems, the child nutrition program should remain stable and require no support from tax revenues.

Financial Analysis of the Government’s Funds

As noted earlier, Union Public School District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Funds. The focus of the district’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the district’s financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year.

As of the end of the current fiscal year, the district’s governmental funds reported combined ending fund balances of $59.89 million. Approximately $23.86 million of this total amount constitutes unreserved fund balance. Of this amount, $21.67 million is undesignated and available for spending at the district’s discretion, while the remainder is designated for compensated balances ($1.31 million); incurred claims ($118,494); and early retirement incentives ($769,561). The remainder of fund balance is specifically reserved to indicate that it is not available for new spending because it has already been committed to debt service ($9.77 million); capital projects ($25.26 million); arbitrage ($756,470); and inventories ($217,198).

The general fund is the chief operating fund of the district. At the end of the current fiscal year, unreserved fund balance of the general fund was $17.08 million. As a measure of the general fund’s liquidity, it may be useful to compare both unreserved fund balance and total fund balance to total fund expenditures. Unreserved fund balance represents 18.62 percent of total general fund expenditures.

The fund balance of the district’s general fund increased by $3.60 million during the current fiscal year. This increase is due primarily as a result of a $2.64 million increase in the district’s mid-term state aid allocation, estimated ad valorem collections above the 95 percent level budgeted, increases in the State Flexible Benefit Allowance, and an upfront Federal Stimulus (ARRA) funding for use in 2009-2010. The American Recovery and Reinvestment Act of 2009 (ARRA) appropriated significant new funding for programs under the Individuals with Disabilities Education Act (IDEA) and under Title I. The overall goals of the ARRA funds are to stimulate the economy in the short-term and invest in education and other essential public services to ensure the long-term economic health of our nation. ARRA funds were distributed quickly to states and other entities in order to avert layoffs and create jobs. Union Public Schools received in excess of $2.32 million of ARRA funds for 2008-2009.

Controlling fiscal year-end expenses to maintain a continuing level of fund balance is also a contributing factor to the district’s financial stability. The district relies on the ending fund balance to meet cash flow needs during the first six months of the following fiscal year. While a small portion of the revenue is collected during the first six months of the fiscal year, the significant revenue collections occur in late spring. This annual cash flow trend requires the district to

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increase the ending fund balance each year as the expenditure budget grows in order to meet cash flow requirements of the first six months prior to tax revenues being collected.

The general fund revenue budget was revised during the year to reflect the mid-term state aid revenue increase of $2.64 million, primarily due to student growth. The official October 2008 child count of 14,566 reflected that the district grew by 209 actual students and 746 weighted students. The district initially built a based on zero student growth. In addition, the district received the Federal Stimulus (ARRA) payment of $2.32 million, and other smaller revenue changes for a total combined revenue budget change of $5.49 million.

The general fund expenditure budget was also increased during the year by $4.19 million to fund the 145 new positions required to open Thomas Jefferson Elementary, to allow the expansion of the district’s all-day four-year-old program, and to open the CAPTC Rosa Parks three-year-old program. In addition, the increase to the expenditure budget covered the state-mandated increases in the State Flexible Benefit Allowance, the employer-paid teacher retirement contribution, rising utility costs, the Federal Stimulus (ARRA) allocation, and the payment of a one-tine year-end employee stipend.

The variance in the final budget versus the actual revenues and expenditures revealed a variance in revenues of $571,638 and a variance in expenditures of $4.78 million. The approved final expenditure budget was intentionally larger than anticipated actual expenditures to provide the flexibility necessary to manage any unanticipated revenue receipts and expenditures incurred in the final days of the fiscal year.

The building fund had a total fund balance of $4.59 million. The net decrease in fund balance during the current year in the building fund was $286,140. This planned decrease in fund balance is attributed to the $1.4 million allocated to fund a portion of the Union Multipurpose Activity Center (UMAC) operating and utility expenses, safety initiatives including County School Resource Officers, as well as custodial positions for the district’s newest facilities, Thomas Jefferson Elementary and the CAPTC Rosa Parks Building. The Oklahoma Constitution allows building funds to be used for erecting, remodeling, repairing, or maintaining school buildings; purchasing furniture, equipment, or computer software; paying energy and utility costs; purchasing telecommunications services; paying fire and casualty insurance premiums; purchasing security systems; and paying salaries of security personnel. The ending fund balance will be used for those purposes.

The sinking (debt service) fund had a total fund balance of $9.80 million, all of which was reserved for the payment of debt service. The net increase in fund balance during the current year in the debt service fund was $1.07 million. Millage rates for sinking fund levies are not controlled by the district but are set annually by the Tulsa County Excise Board after a thorough review of property valuations and the district’s debt service needs.

The bond fund had a total fund balance of $25.26 million, all of which was reserved for capital projects. The net decrease in fund balance during the current year in the bond fund was $1.15 million. This decrease in fund balance is primarily the result of the construction costs to complete Thomas Jefferson Elementary, and also lower interest rate revenue. On February 10, 2009, district voters approved a $20 million bond proposal which included funds for phase II of the baseball/softball complex; performing arts center upgrades, furniture; acquisition of textbooks, media books and instructional hardware/software; and building repairs and renovations to sites districtwide. Other equally crucial items on the ballot included: textbooks and classroom materials; library books; instructional equipment; technology, operations equipment, security cameras and equipment, building repairs and renovations to sites district wide. Because of its strong patron support base, the district is prudent to keep bonded capacity at traditional levels while not imposing an undue tax burden on the community. Statutory requirements dictate that bond funds be used for the voter-approved purposes of acquiring school sites, constructing and equipping new school facilities, renovating existing facilities, and acquiring transportation equipment.

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Proprietary Funds. Union Public School District’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. The proprietary funds have operating revenues of $10.67 million and nonoperating revenues of $3.11 million. Operating expenses were $12.86 million.

General Fund Budgetary Highlights

Union Public School District adopts an annual appropriated budget for its general fund. The district’s budget is prepared according to Oklahoma law and is based on accounting for certain transactions on a basis of cash receipts, disbursements, and encumbrances. The most significant budgeted fund is the general fund.

For the general fund, budget basis revenue was $95.38 million with original budget estimates of $90.46 million and a final budget of $95.95 million. The majority of the revenue increase came from mid-term state aid, Federal Stimulus (ARRA) funding, and ad valorem collections.

The final expenditure budget was intentionally approved to be larger than needed in order to provide the necessary spending authority to the district by the Board to meet the State of Oklahoma spending requirements. The district must have sufficient budget spending authority to allow for any unanticipated revenues that might be collected during the last thirty calendar days of the fiscal year. During 2007-2008, the majority of the additional spending authority was allocated to the instructional function area. Because the revenue collections were within $571,638 of the final revenue budget, it was not necessary to spend the entire expenditure budget in order to stay within the carryover limit required by the Board. Senate Bill 531 was passed by the Legislature to allow districts with $10 million or more in general fund collections to carry forward an ending fund balance of up to 14 percent.

Capital Assets and Debt Administration

Capital Assets. At the end of fiscal year 2009, the district had $141.66 million in property, plant and equipment (net of depreciation), of which $141.19 million was in governmental activities. Table 3 shows a comparison of fiscal years 2009 and 2008 balances.

Table 3Capital Assets

(Net of Depreciation, in Millions)

Governmental Activities Business-Type Activities Total 2009 2008 2009 2008 2009 2008 Land $ 14.29 $ 14.19 $ 0.00 $ 0.00 $ 14.29 $ 14.19Construction in Progress 8.36 9.85 0.00 0.00 8.36 9.85Buildings/Improvements 109.00 101.91 0.00 0.00 109.00 101.91Machinery, Equipment and Vehicles 9.54 8.25 0.47 0.50 10.01 8.76Total $ 141.19 $ 134.21 $ 0.47 $ 0.50 $ 141.66 $ 134.71

Capital assets of $225.56 million exceeded depreciation of $106.55 million. As a growing school district, Union is committed to provide the facilities and tools that enable district staff to produce a quality product. Union’s student population has exceeded the 14,600 mark. Therefore, additional classroom space and equipment are necessary each year to accommodate that growth. The acquisition of capital assets is critical to the Board’s desire to provide lower class sizes districtwide, technology-related instructional opportunities, and neighborhood elementary schools.

33

Bond issue dollars are the only resource available to schools to purchase many of these capital assets since state funding goes almost exclusively to pay teacher and staff salaries. Recent bond issue projects include: *Phase II addition to the softball/baseball complex *Performing Arts Center renovation *Furniture, fixtures and equipment *Roof refurbishments/replacements *Early childhood furniture and playground equipment *Remodel science labs and media center at high school *Acquisition of textbooks and computer hardware/software *Acquisition of athletic, spirit and fine arts uniforms and equipment *Renovations and repairs to various school sites

Additional information on the district’s capital assets may be found in note D to the financial statements beginning on page 61.

Long-Term Debt. At June 30, 2009, the school district had $63.00 million in bonds outstanding, $16.15 million due within one year. Table 4 summarizes bonds outstanding for fiscal years 2009 and 2008.

Table 4Outstanding Debt, at Year End

(In Millions)

2009 2008General Obligation Bonds Due: 2008/2009 0.00 15.552009/2010 16.15 16.152010/2011 17.90 12.902011/2012 14.10 9.102012/2013 9.85 4.852013/2014 5.00 0.00 Total $63.00 $58.55

On April 1, 2009, the district issued $20.0 million in voted general obligation bonds for the purpose of constructing, equipping, repairing and remodeling school buildings, acquiring school furniture, fixtures and equipment, acquiring and improving school sites, and acquiring transportation equipment. The final payment is due April 1, 2014.

On April 1, 2008, the district issued $19.4 million in voted combined purpose bonds for the purpose of constructing, equipping, repairing and remodeling school buildings, acquiring school furniture, fixtures and equipment, acquiring and improving school sites, and acquiring transportation equipment. The final payment is due April 1, 2013.

On April 1, 2007, the district issued $17.0 million in voted combined purpose bonds for the purpose of constructing, equipping, repairing and remodeling school buildings, acquiring school furniture, fixtures and equipment, acquiring and improving school sites, and acquiring transportation equipment. The final payment is due April 1, 2012.

On April 1, 2006, the district issued $15.2 million in voted combined purpose bonds for the purpose of constructing, equipping, repairing and remodeling school buildings, acquiring school furniture, fixtures and equipment, acquiring and improving school sites, and acquiring transportation equipment. The final payment is due April 1, 2011.

34

On April 1, 2005, the district issued $13.0 million in voted general obligation bonds for the purpose of constructing, equipping, repairing and remodeling school buildings, acquiring school furniture, fixtures and equipment, and acquiring and improving school sites. The final payment is due April 1, 2010.

Additional information on the district’s long-term debt can be found in note E to the financial statements beginning on page 63 of this report.

Economic Factors

Fiscal year 2008-2009 ended with evidence that the state’s revenues were being sharply impacted by the nationwide recession. At fiscal year end, general fund revenue collections for the state totaled $5.52 billion. According to the Office of the State Treasurer, those collections were $434.7 million or 7.3 percent below the prior year; and $427.8 million or 7.2 percent below original estimates. During the first half of fiscal year 2009 revenue collections exceeded estimates by $189.5 million or 6.6 percent. However, during the final six months of the fiscal year collections were below the estimates by $617.3 million or 20.1 percent. The state treasurer predicts a revenue shortfall in fiscal year 2010, with slowdowns in every revenue source. Gross production tax collections on oil and natural gas were down 5.5 percent of estimates reflecting the low prices of those commodities. State income taxes generated $220.6 million, which was $74.3 million or 25.2 percent below the prior year. Motor vehicle tax collections were also 25.1 percent below the prior year. Despite revenues falling below appropriations, the state was able to use cash reserves to make up most of the shortfall. The State Treasurer was, however, quick to add that the lower revenue collections will likely prompt cuts to all state agencies in fiscal year 2010. In spite of the downturn, an October 2009 article in Business Week ranked Tulsa as having the seventh strongest metro economy in the United States, crediting a solid housing market as one of the criteria for the city’s success.

At the fiscal year’s end, the district’s tax revenue sources and state aid had once again outperformed prior year collections. Union Public Schools began the budgetary year with conservative estimates and revised those budget estimates during the year to reflect the increased revenue collections. The district continued its tradition of maintaining a strong year-end fund balance.

During the summer of 2008 the Board of Education approved expenditure budgets that included funds for 101 new positions funded from the General, Building and Child Nutrition Funds. Included were new teaching positions, teacher aide/paraprofessional positions, child nutrition positions, support positions, and one administrative position. The majority of the new positions were needed to address class size needs, the opening of the CAPTC Rosa Parks three-year-old program, and the opening of Thomas Jefferson Elementary. The budget also included an increase in funding for the employer’s portion of the teacher retirement contribution.

The district expects student growth to continue, particularly at the secondary level and anticipates continuing to add teachers and programs over the next few years. Although the county assessor provided Union with projections of no growth in the district’s net assessed valuation, actual growth was recorded at two percent. The continued increase in student enrollment and the continued business and residential growth in the district will provide additional ad valorem income.

By working to provide mutual benefit to the community and schools, Union has enjoyed a history of positive citizen support. The district’s patron base once again passed a bond issue on February 10, 2009, for $20.0 million. These bond dollars provided the necessary funding for facilities, renovations, technology, textbooks, instructional equipment and uniforms. It is these annual bond dollars and strong patron support that allow Union the opportunity and obligation to maintain facilities and to maximize the use of instructional technology and equipment. State law limits a school district’s bonding capacity to ten percent of its net assessed valuation.

35

Based on these factors, the Board of Education and administration are confident that with prudent fiscal management, Union Public Schools can continue to make instruction the top budgetary priority to ensure the district keeps its academic focus and delivers its services more efficiently and effectively. Union continues to attract families who want excellent learning opportunities for their children, and also continue to attract the best in faculty and staff by providing the facilities and tools that enable them to produce a quality product.

Contacting the School District’s Financial Management

This financial report is designed to provide our citizen’s, taxpayers, investors, and creditors with a general overview of the district’s finances to show the district’s accountability for the funds it receives. If you have questions about this report or need additional financial information, contact Debra J. Jacoby, CPA, Chief Financial Officer at Union Public Schools, 8506 East 61st Street, Tulsa, Oklahoma 74133.

36

Governmental Business-TypeActivities Activities Total

ASSETS

CURRENT ASSETSCash and cash equivalents 37,851,902$ 1,626,158$ 39,478,060$ Investments 33,825,000 525,000 34,350,000 Receivables:

Property taxes-delinquent 688,358 - 688,358Due from other governments 2,528,493 58,284 2,586,777Accrued interest 66,061 1,288 67,349Other 60,673 - 60,673Internal balance 25,000 (25,000) -

Inventories 217,198 522,018 739,216 TOTAL CURRENT ASSETS 75,262,685 2,707,748 77,970,433

NONCURRENT ASSETSLand and construction-in-progress 22,648,412 - 22,648,412 Capital assets being depreciated, net 118,544,846 466,530 119,011,376

TOTAL NON-CURRENT ASSETS 141,193,258 466,530 141,659,788

TOTAL ASSETS 216,455,943 3,174,278 219,630,221

LIABILITIES AND NET ASSETS

CURRENT LIABILITIESAccounts payable 1,248,987 52,555 1,301,542 Liability for incurred claims 533,094 - 533,094 Accrued wages payable 6,837,278 138,481 6,975,759 Accrued interest payable 522,031 - 522,031 Current portion of long-term obligations 17,849,395 - 17,849,395

TOTAL CURRENT LIABILITIES 26,990,785 191,036 27,181,821

NON-CURRENT LIABILITIESNon-current portion of long-term obligations 50,465,578 - 50,465,578 Non-current portion of OPEB liability 1,940,431 - 1,940,431

TOTAL NON-CURRENT LIABILITIES 52,406,009 - 52,406,009

TOTAL LIABILITIES 79,396,794 191,036 79,587,830

NET ASSETSInvested in capital assets, net of related debt 121,638,825 466,530 122,105,355 Restricted for debt service 9,796,665 - 9,796,665 Restricted for capital projects 2,184,657 - 2,184,657 Unrestricted 3,439,002 2,516,712 5,955,714

TOTAL NET ASSETS 137,059,149$ 2,983,242$ 140,042,391$

See notes to financial statements.37

Net

(Exp

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Reg

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49,6

29,9

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36

6,90

7$

6,03

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(4

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-$

(4

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Spec

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inst

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5,70

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120

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3,38

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366,

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14

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Pupi

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1,86

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38

Net

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See

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ts.

39

This page is intentionally left blank.

40

Other TotalGeneral Building Sinking Bond Governmental Governmental

Fund Fund Fund Fund Funds FundsASSETS

Cash and cash equivalents 9,815,874$ 4,207,705$ 4,912,962$ 10,991,355$ 2,664,875$ 32,592,771$ Investments 12,500,000 825,000 4,750,000 14,750,000 - 32,825,000 Due from other funds - - - - 666,808 666,808 Property taxes-delinquent 355,501 50,785 282,072 - - 688,358 Due from other governments 2,388,255 22,235 118,003 - - 2,528,493 Other 60,673 - - - - 60,673 Accrued interest 30,733 2,033 15,700 15,728 - 64,194 Inventories 217,198 - - - - 217,198

TOTAL ASSETS 25,368,234$ 5,107,758$ 10,078,737$ 25,757,083$ 3,331,683$ 69,643,495$

LIABILITIES AND FUND BALANCES

LIABILITIESAccounts payable 682,914$ 71,505$ -$ 494,568$ -$ 1,248,987$ Accrued wages payable 6,441,322 347,096 - - 48,860 6,837,278 Due to other funds 591,808 50,000 - - - 641,808 Other liabilities - - - - 332,364 332,364 Deferred revenues 355,501 50,785 282,072 - - 688,358

TOTAL LIABILITIES 8,071,545 519,386 282,072 494,568 381,224 9,748,795

FUND BALANCESReserved for capital projects - - - 25,262,515 - 25,262,515 Reserved for debt service - - 9,796,665 - - 9,796,665 Reserved for inventories 217,198 - - - - 217,198 Reserved for arbitrage - - - - 756,470 756,470 Unreserved -

Undesignated 17,079,491 4,588,372 - - - 21,667,863 Unreserved, reported in other governmental funds -

Designated for Compensating Balance fund 1,305,934 1,305,934 Designated for Insurance Recovery fund 118,494 118,494 Designated for Early retirement incentive fund - - - - 769,561 769,561

TOTAL FUND BALANCES 17,296,689 4,588,372 9,796,665 25,262,515 2,950,459 59,894,700 TOTAL LIABILITIES AND

FUND BALANCES 25,368,234$ 5,107,758$ 10,078,737$ 25,757,083$ 3,331,683$

AMOUNTS REPORTED FOR GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET ASSETS ARE DIFFERENT BECAUSE:

Capital assets used in government activities are not financial resources and, therefore, are not reported as assets in governmental funds.

Cost of assets 246,086,317$ Accumulated depreciation (104,893,059) 141,193,258

Property taxes receivable will be collected this year, but are not available soon enough to pay for the current period’s expenditures and, therefore, are deferred in the funds. 688,358

Long-term liabilities, including bonds payable, are not due and payable in the current period and, therefore, are not reported as liabilities in the funds. Long-term liabilities at year-end consist of:

Bonds payable 63,000,000 Accrued interest on the bonds 522,031 Premium on bonds payable 225,296 Arbitrage 283,082 Early retirement incentive 393,283 Compensated absences 4,080,948 Other Post Employment benefits 1,940,431 (70,445,071)

Internal service funds are used by the District to charge the costs of health insurance benefits and short-term disability benefits for the employees of the District to the individual funds. The assets and liabilities of the internal service funds are included with governmental activities. 5,727,904

TOTAL NET ASSETS--GOVERNMENTAL ACTIVITIES 137,059,149$

See notes to financial statements.41

Other TotalGeneral Building Sinking Bond Governmental Governmental

Fund Fund Fund Fund Funds FundsREVENUES

Local sources 29,136,330$ 3,590,366$ 18,927,442$ 241,592$ 762,179$ 52,657,909$ Intermediate sources 3,220,869 - - - - 3,220,869 State sources 54,220,098 - - - - 54,220,098 Federal sources 8,321,948 - - - - 8,321,948

TOTAL REVENUES 94,899,245 3,590,366 18,927,442 241,592 762,179 118,420,824

EXPENDITURESCurrent

Instruction 52,860,405 - - 4,408,318 436,883 57,705,606 Student 6,066,774 - - 97,520 122,143 6,286,437 Instructional staff 3,562,414 3,150 - 1,011,017 29,605 4,606,186 General administration 1,724,350 - - 20,340 16,947 1,761,637 School administration 7,153,213 - - 224,006 131,464 7,508,683 Business 5,622,040 11,090 - 1,124,693 17,459 6,775,282 Operations and maintenance 8,572,093 4,295,444 - 797,027 49,786 13,714,350 Student transportation 3,072,168 - - 1,384,736 28,805 4,485,709

Non-instruction expendituresChild Nutrition Operations 254,649 - - 102,316 7,239 364,204 Community service operations 2,766,182 - - 1,825 1,671 2,769,678 Other 84,175 - - - - 84,175

Capital outlay 450 947 - 11,649,826 - 11,651,223 Debt service

Principal - - 15,550,000 - - 15,550,000 Interest - - 2,058,875 - - 2,058,875

TOTAL EXPENDITURES 91,738,913 4,310,631 17,608,875 20,821,624 842,002 135,322,045

EXCESS (DEFICIENCY) OFREVENUES OVER

(UNDER) EXPENDITURES 3,160,332 (720,265) 1,318,567 (20,580,032) (79,823) (16,901,221)

OTHER FINANCING SOURCES (USES)Issuance of debt - - - 20,000,000 - 20,000,000 Premium on issuance of debt - - 189,600 - - 189,600 Transfers in 441,975 434,125 - - 140,205 1,016,305 Transfers out - - (441,975) (574,330) - (1,016,305)

TOTAL OTHER FINANCINGSOURCES (USES) 441,975 434,125 (252,375) 19,425,670 140,205 20,189,600

NET CHANGE IN FUND BALANCE 3,602,307 (286,140) 1,066,192 (1,154,362) 60,382 3,288,379

FUND BALANCE AT BEGINNINGOF YEAR 13,694,382 4,874,512 8,730,473 26,416,877 2,890,077 56,606,321

FUND BALANCE AT END OF YEAR 17,296,689$ 4,588,372$ 9,796,665$ 25,262,515$ 2,950,459$ 59,894,700$

See notes to financial statements.

42

TOTAL NET CHANGE IN FUND BALANCES-GOVERNMENTAL FUNDS 3,288,379$

AMOUNTS REPORTED FOR GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES ARE DIFFERENT BECAUSE:

Capital outlays to purchase or build capital assets are reported in governmental funds as expenditures.However, for governmental activities, those costs are shown in the statement of net assets and areallocated over their estimated useful lives as annual depreciation expenses in the statement ofactivities. This is the amount by which depreciation is less than capital outlays in the period.

Depreciation expense (9,464,810) Capital outlays 16,478,019 Retirements and adjustments (29,790) 6,983,419

Repayment of bond principal is an expenditure in the governmental funds, but it reduces long-termliabilities in the statement of net assets and does not affect the statement of activities.Proceeds from the sale of new bonds is revenue in the governmental funds, but increaseslong-term liabilities in the statement of net assets and does not affect the statement of activities.

Principal payments 15,550,000 Premium on issuance of bonds (189,600) Amortization of bond premium 8,924 Bond sale proceeds (20,000,000) (4,630,676)

Because some property taxes will not be collected for several months after the District's fiscalyear ends, they are not considered as "available" revenues in the governmental funds, instead, they are counted as deferred revenues. They are, however, recorded as revenue in thestatement of activities. (464,607)

Internal service funds are used by the District to charge the costs of health insurance benefits and short-term disability benefits for the employees of the District to the individual funds. The changes in net assets of the internal service fund are included with governmental activities. 422,307

Interest on long-term debt in the statement of activities differs from the amount reported in the governmental funds because interest is recorded as an expenditure in the funds when it is due,and, thus. Requires the use of current financial resources. In the statement of activities, however,interest expense is recognized as the interest accrues, regardless of when it is due. (7,312)

Some expenses (arbitrage, compensated absences, early retirement incentives, and other postemployment benefits) reported in the statement of activities do not require the use of currentfinancial resources, and therefore, are not reported as expenditures in governmental funds. (1,057,357)

CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES 4,534,153$

See notes to financial statements.

43

VarianceOriginal Final OverBudget Budget Actual (Under)

REVENUESLocal sources 29,563,481$ 30,328,406$ 29,900,707$ (427,699)$ Intermediate sources 3,185,000 3,290,000 3,133,223 (156,777) State sources 50,820,289 54,153,767 54,223,771 70,004 Federal sources 6,894,219 8,179,952 8,122,786 (57,166)

TOTAL REVENUES 90,462,989 95,952,125 95,380,487 (571,638)

EXPENDITURESInstruction 54,726,340 55,617,767 53,014,702 (2,603,065) Support services

Student 6,510,162 7,185,660 6,064,901 (1,120,759) Instructional staff 3,678,175 4,524,042 3,562,414 (961,628) General administration 1,371,538 1,506,461 1,724,350 217,889 School administration 6,669,520 6,791,480 7,153,213 361,733 Business 5,491,446 5,798,800 5,622,040 (176,760) Operation and maintenance 7,326,777 8,288,577 8,466,453 177,876 Student transportation 3,216,224 3,177,132 3,075,612 (101,520)

Non-instructional servicesChild Nutrition Operations 199,942 331,218 254,649 (76,569) Community services operations 2,882,948 2,866,023 2,766,182 (99,841) Other outlays 300,826 479,875 84,175 (395,700)

Capital outlay - - 450 450 TOTAL EXPENDITURES 92,373,898 96,567,035 91,789,141 (4,777,894)

EXCESS REVENUES (EXPENDITURES) (1,910,909) (614,910) 3,591,346 4,206,256

FUND BALANCE AT BEGINNING OF YEAR 9,749,997 9,749,997 9,749,997 -

FUND BALANCE AT END OF YEAR 7,839,088$ 9,135,087$ 13,341,343 4,206,256$

ADJUSTMENTS TO CONFORM WITH GAAPReceivables at end of year 2,479,661 Inventory at end of year 217,198 Worker's compensation 1,258,487

FUND BALANCE AT END OF YEAR (GAAP BASIS) 17,296,689$

See notes to financial statements.

44

VarianceOriginal Final OverBudget Budget Actual (Under)

REVENUESLocal sources 3,694,100$ 3,759,682$ 3,611,747$ (147,935)$ Interest and Other 370,000 370,000 434,126 64,126

TOTAL REVENUES 4,064,100 4,129,682 4,045,873 (83,809)

EXPENDITURESSupport services

Instructional staff - - 3,150 3,150 Business - - 11,092 11,092 Operation and maintenance 5,875,177 5,954,981 4,295,444 (1,659,537) Other 291,361 211,557 947 (210,610)

TOTAL EXPENDITURES 6,166,538 6,166,538 4,310,633 (1,855,905)

EXCESS REVENUES (EXPENDITURES) (2,102,438) (2,036,856) (264,760) 1,772,096

FUND BALANCE AT BEGINNING OF YEAR 4,828,864 4,828,864 4,828,864 -

FUND BALANCE AT END OF YEAR 2,726,426$ 2,792,008$ 4,564,104 1,772,096$

ADJUSTMENTS TO CONFORM WITH GAAPReceivables, end of year 24,268

FUND BALANCE AT END OF YEAR (GAAP BASIS) 4,588,372$

See notes to financial statements.

45

GovernmentalBusiness-Type Activities-

Activities InternalEnterprise Fund: Service Fund:Child Nutrition Employee

Fund Insurance FundASSETS

CURRENT ASSETSCash and equivalents 1,626,158$ 5,259,131$ Investments 525,000 1,000,000 Due from other governments 58,284 - Accrued interest receivable 1,288 1,867 Inventories 522,018 -

TOTAL CURRENT ASSETS 2,732,748 6,260,998

NONCURRENT ASSETSCapital assets, net 466,530 -

TOTAL NONCURRENT ASSETS 466,530 -

TOTAL ASSETS 3,199,278$ 6,260,998$

LIABILITIES

CURRENT LIABILITIESAccounts payable 52,555$ -$ Liability for incurred claims - 533,094 Accrued wages payable 138,481 - Due to other funds 25,000 -

TOTAL CURRENT LIABILITIES 216,036 533,094

NET ASSETSInvested in capital assets 466,530 - Unrestricted 2,516,712 5,727,904

TOTAL NET ASSETS 2,983,242 5,727,904

TOTAL LIABILITIES AND NET ASSETS 3,199,278$ 6,260,998$

See notes to financial statements.

46

GovernmentalBusiness-Type Activities-

Activities InternalEnterprise Fund: Service Fund:Child Nutrition Employee

Fund Insurance FundOPERATING REVENUES

Meals 2,100,244$ -$ Insurance contributions - 8,565,904 Other income - -

TOTAL OPERATING REVENUES 2,100,244 8,565,904

OPERATING EXPENSESSalaries and wages 2,101,308 391,103 Purchased and contracted services 153,962 - Food suppliers 2,024,108 - Commodities 132,997 - Depreciation 91,890 - Management fees - 1,092,902 Medical claims - 6,709,976 Other operating expenses 130,355 28,250

TOTAL OPERATING EXPENSES 4,634,620 8,222,231

OPERATING INCOME (LOSS) (2,534,376) 343,673

NONOPERATING REVENUESInterest income 13,510 78,634 Federal and state grants 2,837,812 - Donated commodities 181,498 -

TOTAL NONOPERATING REVENUES 3,032,820 78,634

CHANGES IN NET ASSETS 498,444 422,307

NET ASSETS AT BEGINNING OF YEAR 2,484,798 5,305,597

NET ASSETS AT END OF YEAR 2,983,242$ 5,727,904$

See notes to financial statements.

47

GovernmentalBusiness-Type Activities-

Activities InternalEnterprise Fund: Service Fund:Child Nutrition Employee

Fund Insurance FundCASH FLOWS FROM OPERATING ACTIVITIES

Receipts from user charges 2,100,244$ 8,565,904$ Cash payments for insurance claims - (6,530,065) Cash payments to suppliers for goods and services (2,241,547) (1,121,152) Cash payments to employees for services (2,092,142) (391,128)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (2,233,445) 523,559

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIESCapital assets purchased (57,215) - Non-operating grants received 2,814,024 -

NET CASH PROVIDED BY CAPITAL AND RELATED FINANCING ACTIVITIES 2,756,809 -

CASH FLOWS FROM INVESTING ACTIVITIESProceeds from sales and maturities of investments 666,336 980,323 Purchases of investments (769,674) (1,980,323) Investment Income 18,096 77,057

NET CASH USED IN INVESTING ACTIVITIES (85,242) (922,943)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 438,122 (399,384)

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1,188,036 5,658,515

CASH AND CASH EQUIVALENTS AT END OF YEAR 1,626,158$ 5,259,131$

RECONCILIATION OF OPERATING LOSS TO NET CASH PROVIDED BY (USED IN)OPERATING ACTIVITIES

Operating income (loss) (2,534,376)$ 343,673$ Adjustments to reconcile operating income (loss) to net cash provided

by (used in) operating activitiesDepreciation 91,890 - Decrease in inventories 157,388 - Increase in accounts payable 42,487 - Increase (Decrease) in accrued wages payable 9,166 (25) Decrease in due from other funds - 3,891 Increase in liability for incurred claims - 176,020

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (2,233,445)$ 523,559$

SUPPLEMENTAL DISCLOSURE OF NONCASH ACTIVITIES

Commodities received from Department of Human Services 181,498$ -$

Commodities consumed 132,997$ -$

See notes to financial statements.

48

Private-Purpose

Trust AgencyFund Fund

ASSETSCash and cash equivalents 84,437$ 2,272,813$

LIABILITIES AND NET ASSETS

LIABILITIESAccounts payable -$ 7,341$ Wages payable - 8,919 Due to student groups - 2,256,553

TOTAL LIABILITIES -$ 2,272,813$

NET ASSETSUnreserved/undesignated 84,437$ -$

See notes to financial statements.

49

Private-Purpose

TrustFund

ADDITIONSContributions 4,570$ Interest income 846

TOTAL ADDITIONS 5,416

DEDUCTIONSOther operating expenses 14,484

TOTAL DEDUCTIONS 14,484

CHANGE IN NET ASSETS (9,068)

NET ASSETS AT BEGINNING OF YEAR 93,505

NET ASSETS AT END OF YEAR 84,437$

See notes to financial statements.

50

51

NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation: The financial statements of the Union Public Schools Independent District No. 9 (the “District”) have been prepared in conformity with accounting principles generally accepted in the United States of America as applied to government units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. With respect to proprietary activities, the District has adopted GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities that use Proprietary Fund Accounting. The District has elected to apply all applicable GASB pronouncements as well as Financial Accounting Standards Board (“FASB”) pronouncements and Accounting Principals Board (“APB”) opinions, issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements. The more significant of the District’s accounting policies are described below. Reporting Entity: The District is a corporate body for public purposes created under Title 70 of the Oklahoma statutes and, accordingly, is a separate entity for operating and financial reporting purposes. The District is part of the public school system of Oklahoma under the general direction and control of the Board of Education and is financially dependent on the state of Oklahoma for support. The general operating authority for the public school system is the Oklahoma School Code contained in Title 70, Oklahoma statutes. As required by accounting principles generally accepted in the United States of America, the basic financial statements present the reporting entity which consists of the primary government, organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion could cause the District’s basic financial statements to be misleading or incomplete. The District has presented the entities which comprise the reporting entity in the basic financial statements for 2009. The District has not identified any component units that should be included in the District’s reporting entity. The governing body of the District is its Board of Education composed of five elected members. The appointed superintendent is the executive officer of the District. Basic Financial Statements: The government-wide financial statements (i.e. the statement of net assets and the statement of activities) report information on all of the non-fiduciary activities of the District. For the most part, the effect of interfund activity has been removed from these statements. Interfund services provided and used are not eliminated. Governmental activities, which are normally supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported as general revenues.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Basic Financial Statements--Continued: Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. Governmental Funds: Governmental funds are used to account for all or most of a government’s general activities, including the collection and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general fixed assets (capital projects funds), and the servicing of general long-term debt (debt service funds). The District reports the following major governmental funds:

General Fund The General Fund is used to account for all financial transactions except those required to be accounted for in another fund. Major revenue sources include local property taxes and state funding under the Foundation and Incentive Aid Program. Expenditures include all costs associated with the daily operations of the schools except for programs funded for building repairs and maintenance, school construction, and debt service on bonds and other long-term debt. Building Fund The District’s Building Fund is a special revenue fund and consists of monies derived from property taxes levied for the purpose of erecting, remodeling, or repairing buildings and for purchasing furniture and equipment. Sinking Fund The District’s sinking fund is a debt service fund and is used to account for the accumulation of financial resources for the payment of general long-term debt principal, interest and related costs. The primary revenue sources are local property taxes levied specifically for debt service and interest earnings from temporary investments. Bond Fund The District’s bond fund is a capital project fund and is used to account for the proceeds of bond sales to be used exclusively for acquiring school sites, constructing and equipping new school facilities, renovating existing facilities, and acquiring transportation equipment. This fund is also utilized to acquire books and other non-capitalizable items. Other Governmental Funds The District’s other governmental funds include the Compensating Absence Fund, the Insurance Recovery Fund, the Early Retirement Incentive Fund, and the Arbitrage Fund. All of which are non-major governmental funds. These funds are used to account for the long term payables of the district.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Proprietary Funds: Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the District (internal service funds). Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering foods in connection with a proprietary fund’s principal ongoing operations. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. The District reports the following major proprietary funds:

Child Nutrition Fund The District’s Child Nutrition Fund is an enterprise fund used to account for the operations of the child nutrition programs. In addition to meal ticket sales, revenue sources include federal and state grants for free and reduced meals. Employee Insurance Fund The Employee Insurance Fund is an internal service fund used to account for the accumulation, recording and disbursing of District and participant contributions to the District’s self-insured medical, dental, and short-term disability programs.

Fiduciary Funds: Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of employees or other funds within the District. When these assets are held under the terms of a formal trust agreement, a pension trust fund, an investment trust fund or a private-purpose trust fund is used. Currently, the District utilizes only a private-purpose trust fund to account for activities of the Union School District Public Trust. Agency funds generally are used to account for assets that the District holds on behalf of others as their agent and do not involve measurement of results of operations. The District’s fiduciary funds have been excluded from the government-wide financial statements.

Private-Purpose Trust Fund The Union School District trust fund is a private-purpose trust fund used to account for donations received for the benefit of specified individuals associated with the District.

Agency Fund The Agency Fund consists of the School Activities fund. The School Activities fund is used to account for monies collected principally through fundraising efforts of the students and District sponsored groups. The administration is responsible, under the authority of the Board, for collecting, disbursing and accounting for these activity funds.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Basis of Accounting and Measurement Focus: The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. The economic resources measurement focus is not applicable to the agency funds and therefore have no measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Agency funds are reported in fiduciary fund financial statements and apply the accrual basis of accounting but do not have a measurement focus. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under modified accrual accounting. However, debt service expenditures, as well as expenditures related to compensated balances are recorded only when the payment is due. Property taxes and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the government. Budgets and Budgetary Accounting: The District is required by state law to prepare an annual budget. A preliminary budget must be submitted to the Board of Education by December 31 for the fiscal year beginning the following July 1. If the preliminary budget requires an additional levy, the District must hold an election on the second Tuesday in February to approve the levy. If the preliminary budget does not require an additional levy, it becomes the legal budget. If an election is held and the taxes are approved, then the preliminary budget becomes the legal budget. If an election rejects the additional taxes, the District must adopt a budget within the approved tax rate. A budget is legally adopted by the Board of Education for the General Fund and Building Fund that includes revenues and expenditures. These budgets are prepared on a cash basis for revenues and principally on the modified accrual basis for expenditures. Budgetary control is maintained by fund, function, and activity and budgeted expenditures may not exceed appropriation at the fund level. Amendments may be made to the budget without approval by the governing body at the function and activity levels. Fund level budgetary amendments require approval of the governing body. In addition, encumbrance accounting is employed. Under this system, purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve a portion of the applicable appropriation. At the end of the year, encumbered appropriations for which goods and/or services have not been received lapse. At the beginning of the next year, prior year encumbrances are reviewed and some are reestablished. There were no material encumbrances which lapsed at June 30, 2009, and were reinstated during fiscal year 2009, for the General Fund and Building Fund.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Assets, Liabilities and Net Assets Cash and Cash Equivalents: For purposes of the statement of cash flows, the District considers all cash on hand, demand deposits and highly liquid investments with an original maturity of three months or less when purchased to be cash and cash equivalents. Investments: Investments consist of certificates of deposit with maturities greater than three months when purchased and United States Treasury securities and agencies. Investments are reflected at fair value. Property Tax Revenues and Receivables: The District is authorized by state law to levy property taxes which consist of ad valorem taxes on real and personal property within the District. The county assessor, upon receipt of the certification of tax levies from the county excise board, extends the tax levies on the tax roll for submission to the county treasurer prior to October 1. The county treasurer must commence tax collection within fifteen days of receipt of the tax rolls. The first half of taxes is due prior to January 1. The second half is due prior to April 1. If the first payment is not made timely, the entire tax becomes due and payable on January 2. The second half of the taxes becomes delinquent on April 1 of the year following the year of assessment. If not paid by the following October 1, the property is offered for sale for the amount of taxes due. The purchaser is issued a certificate of ownership; the original owner has two years to redeem the property by paying the taxes and penalty owed. If at the end of two years the original owner has not done so, the purchaser is issued a deed to the property. Uncollected taxes assessed on valuations made each year are recorded in the District’s governmental fund financial statements. The delinquent taxes which are not collected within 60 days of the year end are recorded in the governmental fund financial statements as deferred revenue. Uncollectible personal and real property taxes are deemed to be immaterial because the real property can be sold for the amount of taxes due. Inventories: Inventories in the governmental funds are carried at cost and are recorded as expenditures when consumed on a first-in, first-out method rather than when purchased. Inventories include fuel, instructional, janitorial, medical, and food service supplies. Cost of donated federal surplus commodities is based on values established by the federal government at the time of donation. Inventories for proprietary funds are stated at the lower of cost or market on a first-in, first-out method.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Inventories at June 30, 2009 consist of the following: Governmental activities Instructional $ 32,880 Janitorial 163,682 Computer accessory 831 Transport 16,313 Medical 3,492 Total governmental activities 217,198

Business-type activities Food service 522,018

$ 739,216 Capital Assets: All purchased capital assets are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated capital assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the assets or materially extend asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related capital assets, as applicable. Depreciation of all exhaustible capital assets is charged as an expense against their operations. Depreciation has been provided using the straight-line method over the following estimated useful lives: Useful Capitalization Life Threshold

Buildings and structures 10-50 years $ 2,500 Improvements 10-50 years $ 2,500 Equipment 5-40 years $ 2,500 Furniture and fixtures 5-10 years $ 2,500 Compensated Balances: Liability for compensated balances attributable to the District’s governmental funds is recorded in the government-wide financial statements. It is the district’s policy that vacation is accrued in the current fiscal year to be used in the next fiscal year. If an employee separates employment, the district policy provides payment to the employee. Sick leave may also be accumulated up to 120 days. Upon retirement or severance of employment, the district policy provides payment to eligible employees for accumulated sick days. This liability is intended to accommodate these payments. Long-Term Debt: Long-term debt is recognized as a liability of the applicable governmental activities, business-type activities or proprietary fund type in the statements of net assets. Internal Balances: Amounts reported in the fund financial statements as interfund receivables and payables are eliminated in the entity-wide governmental and business-type activities columns of the statement of net assets, except for the net residual amounts due between governmental and business-type activities, which are presented as internal balances, as applicable.

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NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Due To/From Other Funds: Amounts owed between funds which are due within one year are reported as due to other funds. Interfund Transactions: Interfund transactions are either loans or transfers. Loans are reported as receivables and payables as appropriate and are subject to elimination. Interfund transactions are presented as transfers. Transfers within governmental activities or within business-type activities are eliminated. Fund Equity: In the fund financial statements, reserves represent those portions of fund balance not appropriable for expenditure or legally segregated for a specific future use. Designations of fund balance represent tentative management plans that are subject to change. Inter-fund Receivables, Payables and Transfers: The composition of interfund balances as of June 30, 2009, was as follows: Receivable Fund Payable Fund Amount Compensating Balance General $ 250,000 Compensating Balance Building 50,000 Compensating Balance Child Nutrition 25,000 Early Retirement Incentive General 341,808 Total $ 666,808 These represent amounts necessary to subsidize the Internal Service Fund and Early Retirement Incentive liability. These amounts are expected to be paid within the next fiscal year. Inter-fund transfers, which represent transfers of interest earnings during the year ended June 30, 2009, were as follows:

58

NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES--Continued Revenues, Expenses and Expenditures State Revenues: Revenues from state sources for current operations are primarily governed by the state aid formula under the provisions of Article XVIII, Title 70, Oklahoma statutes. The Board of Education administers the allocation of state aid funds to school districts based on information accumulated from the districts. After review and verification of reports and supporting documentation, the State Department of Education (the “Department”) may adjust allocations of money for errors disclosed by review. Normally, such adjustments are treated as reductions or additions of revenue of the year when the adjustment was made. The District receives revenue from the state to administer certain categorical educational programs. Board of Education rules require that revenue earmarked for these programs be expended only for the program for which the money is provided and require that the money not expended as of the close of the fiscal year be carried forward into the following year to be expended for the same categorical programs. The Department requires that categorical educational program revenues be accounted for in the General Fund. Benefits Funded by the state of Oklahoma: For 2009, the state of Oklahoma contributed estimated payments benefiting District employees as follows: Plan Amount Teachers’ Retirement System of Oklahoma $ 5,597,560 The District has recognized the revenues and expenditures related to this on-behalf payment in its basic financial statements. The District is legally responsible for these contributions. Net Assets The government-wide and business-type fund financial statements utilize a net asset presentation. Net assets are categorized as investment in capital assets (net of related debt), restricted and unrestricted. Investment in Capital Assets: Investment in capital assets (net of related debt) is intended to reflect the portion of net assets which are associated with non-liquid capital asset less outstanding capital asset related debt. The net related debt is debt less the outstanding liquid assets and any associated unamortized cost. Restricted Net Assets: Restricted net assets are liquid assets (generated from revenues and net bond proceeds) which have third party (statutory, bond covenant or granting agency) limitations on their use. The District would typically use restricted net assets first, as appropriate opportunities arise, but reserve the right to selectively defer the use thereof to a future project or replacement equipment acquisition.

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NOTE B--CASH AND INVESTMENTS Custodial Credit Risk: Custodial credit risk is the risk that in the event of failure of counterparty, the District will not be able to recover the value of its deposits or investments. Deposits are exposed to custodial credit risk if they are uninsured and uncollateralized. Investment securities are exposed to custodial credit risk if they are uninsured, are not registered in the name of the District, and are held by counterparty or the counterparty’s trust department but not in the name of the District. The District’s policy requires that all deposits and investments in excess of amounts covered by federal deposit insurance be fully collateralized by the entity holding the deposits or investments. As of June 30, 2009, all of the Districts deposits and investments were either covered by federal deposit insurance or were fully collateralized. Deposits: The District had deposits at financial institutions with a carrying amount of approximately $39,251,000 at June 30, 2009. The bank balance of these deposits at June 30, 2009 was approximately $43,520,000. Credit Risk: Fixed-income securities are subject to credit risk. Credit quality rating is one method of assessing the ability of the issuer to meet its obligation. The District’s investment policy requires that, except for United States Treasury securities, the District’s investment portfolio will be diversified to avoid incurring undue concentration in securities of one type. The District’s policy also requires that all deposits and investments in excess of amounts covered by federal deposit insurance be fully collateralized by the entity holding the deposits or investments. Due to the unstable economic climate and extremely low available interest rates for investing, investments were purchased to obtain the highest possible interest rate. Therefore, the investment portfolio consisted of $35,600,000 in Certificates of Deposit with interest rates ranging from .30% to 1.05% with original maturity dates from 90 days to 15 months as of June 30, 2009. Interest Rate Risk: Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The District’s investment policy limits the duration of fixed-income securities to a maximum maturity from the date of purchase of sixty months, provided that sufficient liquidity is available to meet the District’s major cash outlays. The District’s investment committee and Board of Education monitor the District’s investment performance on an ongoing basis to limit the District’s interest rate risk. As of June 30, 2009, all of the District’s investments were scheduled to mature in less than eighteen months.

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NOTE C--RECEIVABLES Receivables at June 30, 2009, all due within one year, for the government’s individual major funds, internal service and fiduciary funds in the aggregate, are as follows:

These receivables are expected to be collected within the next fiscal year.

61

NOTE D--CAPITAL ASSETS A summary of changes in capital assets for the year ended June 30, 2009, follows:

62

NOTE D--CAPITAL ASSETS--Continued Depreciation expense was charged to functions of the District as follows: Governmental Activities Business-Type Activities

Instruction $ 7,496,993 Child nutrition fund $ 91,890 Pupil services 43,970 Instructional services 151,803 General administration 38,863 School administration 267,054 Business services 590,694 Operations and maintenance services 274,991 Transportation services 592,663 Community services 7,779

$ 9,464,810 NOTE E--LONG-TERM DEBT State statutes prohibit the District from becoming indebted in an amount exceeding the revenue to be received for any fiscal year without approval by the District’s voters. Bond issues have been approved by the voters and issued by the District for various capital improvements. State law requires these bonds be fully paid serially within 25 years from the date of issue. Long-term debt of the District consists of bonds payable, obligations for compensated balances, a liability for the early retirement incentive plan and a liability for arbitrage earnings on outstanding bond issues. Debt service requirements for bonds are payable solely from the fund balance and future revenues of the sinking fund. In prior years, the liability for compensated balances has been primarily liquidated from the fund balance of the General Fund. The following is a summary of long-term debt activity of the District for the year ended June 30, 2009:

63

NOTE E--LONG-TERM DEBT--Continued A brief description of the outstanding general obligation bond issues at June 30, 2009, is set forth below: Amount Outstanding Independent School District No. 9 Building Bonds Series 2005, original issue $13,000,000, interest rate of 3.5% to 4% (3.5% at June 30, 2009), due in installments of $3,250,000 annually, final payment of $3,250,000 due April 1, 2010. $ 3,250,000

Independent School District No. 9 Building Bonds Series 2006, original issue $15,200,000, interest rate of 4%, due in installments of $3,800,000 annually, final payment of $3,800,000 due April 1, 2011. 7,600,000

Independent School District No. 9 Building Bonds Series 2007, original issue $17,000,000, interest rate of 4%, due in installments of $4,250,000 annually, final payment of $4,250,000 due April 1, 2012. 12,750,000

Independent School District No. 9 Building Bonds Series 2008, original issue $19,400,000, interest rate of 3% to 3.25%, due in installments of $4,850,000 annually, final payment of $4,850,000 due April 1, 2013. 19,400,000

Independent School District No. 9 Building Bonds Series 2009, original issue $20,000,000, interest rate of 2.5% to 3.0% due in installments of $5,000,000 annually, final payment of $5,000,000 due April 1, 2014. 20,000,000

$63,000,000

Maturities of long-term debt are as follows:

Interest on general long-term debt incurred during the current year was approximately $2,059,000.

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NOTE F--EARLY RETIREMENT INCENTIVES In 1994, the District revised its early retirement incentive plan whereby new or additional participants are paid stipends ranging from $300 to $700 per month plus health and life insurance coverage. An eligible participant is one who qualifies for service retirement benefits through the Teachers’ Retirement System of Oklahoma, has completed one (1) full year at the top step of the previous year’s salary schedule, has ten years experience as an employee of the District, and has received Board approval for participation in the plan. All benefits terminate in the event of death, after two or five years of receiving benefits from the plan or, if the retiree accepts employment as a certified employee with any other school district in the state of Oklahoma. As of June 30, 2009, there are 55 participants in the plan. The District has funded this liability with available General Fund assets and has recorded the liability in the statement of net assets. Amounts accrued with respect to employees electing to retire under this plan as of June 30, 2009 was approximately $726,000. NOTE G--RISK MANAGEMENT Effective December 1, 1988, the District began a self-insured medical program for District employees and their eligible dependents. This program is administered by an independent third party and covers medical and dental expenses for employees with dependent coverage available at additional charges. In order to mitigate the risk associated with this program, the District has purchased individual “stop loss” insurance of $150,000 and aggregate “stop loss” insurance of approximately $9,664,000 plus 100% of employee and District premium contributions. Monthly, the District contributes $111 per employee for the program, which covers expected claims, stop loss coverage, cost containment provisions and administrative costs. A summary of premiums collected from the District and employees and claims paid from July 1, 2008 through June 30, 2009 is set forth below: District and employee premiums $ 7,666,721 Claims and changes in estimates $ 6,382,242 Insurance and administrative costs 1,295,687

Total claims incurred and other costs $ 7,677,929

65

NOTE G--RISK MANAGEMENT--Continued A summary of changes in the aggregate liability for claims in the current and the two prior fiscal years are set forth below:

The claims liability shown above includes the District’s estimated liability for medical and dental claims incurred but not reported to the District (or the administrator) as of June 30, 2009. The activity for this program is reflected in the accompanying fund financial statements in the internal service fund. There were no significant reductions in coverage from that in prior years and settlements have not exceeded insurance coverage for each of the past three fiscal years. The District purchases commercial insurance for all other types of risk including, but not limited to, property, casualty, workers’ compensation, vehicle, and employee life. Settlements have not exceeded insurance coverage for each of the past three fiscal years. The full amount of the claims liability at June 30, 2009 is expected to be paid during fiscal year 2010. As such, the full liability of $533,094 has been classified as a current liability in the accompanying June 30, 2009 financial statements. NOTE H--EMPLOYEE RETIREMENT SYSTEM The District participates in the state-administered Teachers’ Retirement System of Oklahoma (the “System”), which is a cost-sharing, multiple-employer public employee retirement system (“PERS”). Under the System, contributions are made by the District, the state of Oklahoma, and the participating employees. Participation is required for all teachers, and other certified employees and is optional for all other regular employees of public educational institutions who work at least 20 hours per week. A participant’s date of membership is the date of the first contribution made to the System. The System is administered by a board of trustees which acts as a fiduciary for investing the funds and governing the administration of the System. The District has no responsibility or authority for the operation and administration of the System nor has it any liability, except for the current contribution requirements.

66

NOTE H--EMPLOYEE RETIREMENT SYSTEM--Continued The System provides defined retirement benefits based on members’ final compensation, age, and term of service. In addition, the retirement program provides for benefits upon disability and to survivors upon the death of eligible members. Title 70 O. S. Sec. 17-105 defines all retirement benefits. The authority to establish and amend benefit provisions rests with the legislature of the state of Oklahoma. The contribution rates for the District, which are not actuarially determined, and its employees are established by state statute and applied to the employee’s earnings plus employer-paid fringe benefits. The District was required to contribute 8.5% for the period July through December 2008 and 9% for the period January through June 2009 of applicable compensation for the year ended June 30, 2009. Participating members are required to contribute 7.0% of regular annual compensation not to exceed members’ maximum contribution. The legislature of the state of Oklahoma has enacted new legislation to increase the District’s contribution amount to 9.5% effective January 1, 2010. The compensation for employees covered by the System for the year ended June 30, 2009 was approximately $52,519,000; the District’s total compensation was approximately $84,039,000. Total contributions by the District made during the year ended June 30, 2009 amounted to approximately $5,389,000. These contributions represented approximately 11% of covered compensation and represent approximately 6.9% of total contributions to the System. The District has contributed its required contribution to the System. Trend information for the District’s annual required contributions is as follows: Teachers’ Retirement System of Oklahoma Required Percentage Contribution Contributed Fiscal year 2005 $ 3,128,133 100% 2006 $ 3,417,884 100% 2007 $ 4,101,057 100% 2008 $ 4,806,810 100% 2009 $ 5,389,432 100% Separately issued financial statements of the System can be obtained by contacting the Teachers’ Retirement System of Oklahoma at P.O. Box 53524, Oklahoma City, Oklahoma 73152, by calling (405) 521-2387, or at the TRS website at www.trs.state.ok.us. These stand-alone financial statements can be useful in assessing the System’s accumulation of sufficient assets to pay pension benefits as they become due and in reviewing historical trend information.

67

NOTE I--OTHER POST-EMPLOYMENT INSURANCE BENEFITS-HEALTH AND DENTAL INSURANCE PROGRAM District employees have the option of continuing health, vision and dental coverage at their own expense upon retirement if they are covered by an employment contract that provides for post-retirement benefits and who meets one of the following requirements:

• Age 55 with 5 years of service • Rule of 80 if hired before July 1, 1992 (combined age and service years) • Rule of 90 if hired after July 1, 1992 (combined age and service years) • 10 years of service

Retired employees may pay the same premium as the District pays for current employees. Funding Policy - Contribution requirements of the District are established and may be amended by the Board of Education. All contributions are made by the retirees. Benefits are funded under a “pay as you go” funding method; however expenses are recorded as benefits accumulate. Annual OPEB cost and net OPEB obligation - The District’s annual OPEB cost is calculated based on the annual required contribution of the District (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a period not to exceed thirty (30) years. The following table shows the components of the District’s net OPEB obligation for the year, the amount actually contributed, and changes in the District’s net OPEB obligation:

The net OPEB obligation at June 30, 2009 is included in the government-wide Statement of Net Assets as a non-current obligation.

68

NOTE I--OTHER POST-EMPLOYMENT INSURANCE BENEFITS-HEALTH AND DENTAL INSURANCE PROGRAM--Continued This obligation is currently unfunded. The annual required contribution for 2009 was determined as part of an actuarial valuation on July 1, 2007, using the projected unit credit actuarial cost method with 30-year amortization of the unfunded liability. The actuarial assumptions included:

(a) discount rate of 4% per year compounded annually, (b) salary increases of 4% per year (c) age-based monthly retiree medical costs

(d) varying participation rates for active and inactive employees, with adjustments made for persons who terminate prior to retirement

(e) health trend rates increasing 5%-10% annually Trend Information GASB 45 was not implemented until the 2008 fiscal year; therefore, only two years of trend information is available.

Funded Status and Funding Progress The funded status of the plan as of the most recent actuarial report dated July 1, 2007 is as follows:

Actuarial valuation of an ongoing plan involves estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required

69

NOTE I--OTHER POST-EMPLOYMENT INSURANCE BENEFITS-HEALTH AND DENTAL INSURANCE PROGRAM—Continued supplementary information following the notes to the financial statements, will over time provide multi-year trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. NOTE J--COMMITMENTS AND CONTINGENCIES Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the District believes such amounts, if any, would be immaterial. As of June 30, 2009, the District had outstanding commitments (contracts and purchase orders) of approximately $1,058,000, primarily for construction projects and equipment. On occasion, the District is party to legal proceedings which arise in the normal course of operations. Any liability resulting from these proceedings is not believed, by management, to have a material effect on the financial statements. NOTE K--NEW PRONOUNCEMENTS Governmental Accounting Standards Board (“GASB”) Statement No. 51, Accounting and Financial Reporting for Intangible Assets, which establishes accounting and financial reporting requirements for intangible assets including easements, water rights, timber rights, patents, trademarks, and computer software. The requirements of this statement are effective for financial statements for periods beginning after June 15, 2009. Governmental Accounting Standards Board (“GASB”) Statement No. 53, Accounting and Financial Reporting for Derivative Instruments, which addresses the recognition, measurement, and disclosure of information regarding derivative instruments entered into by state and local governments. The requirements of this statement are effective for financial statements for periods beginning after June 15, 2009. Governmental Accounting Standards Board (“GASB”) Statement No, 54, Fund Balance Reporting and Governmental Fund Type, which is to enhance the usefulness of fund balance information by providing clearer fund balance classifications that can be more consistently applied and by clarifying the existing governmental fund type definitions. The requirements of this statement are effective for financial statements for periods beginning after June 15, 2010. The District’s management is in the process of determining what, if any, impact the above pronouncements will have on the District’s financial reporting process.

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70

TotalCompensating Insurance Early Retirement Nonmajor

Balance Recovery Incentive Arbitrage Governmental Fund Fund Fund Fund Funds

ASSETSCash and cash equivalents 1,006,917$ 118,494$ 782,994$ 756,470$ 2,664,875$ Investments - - - - - Due from other funds 325,000 - 341,808 - 666,808 Property taxes-delinquent - - - - - Due from other governments - - - - - Other - - - - - Accrued interest - - - - - Inventories - - - - -

TOTAL ASSETS 1,331,917$ 118,494$ 1,124,802$ 756,470$ 3,331,683$

LIABILITIES AND FUND BALANCES

LIABILITIESAccounts payable -$ -$ -$ -$ -$ Accrued wages payable 25,983 - 22,877 - 48,860 Due to other funds - - - - - Other liabilities - - 332,364 - 332,364 Liability for claims incurred - - - - - Deferred revenues - - - - -

TOTAL LIABILITIES 25,983 - 355,241 - 381,224

FUND BALANCESReserved for capital projects - - - - - Reserved for debt service - - - - - Reserved for inventories - - - - - Reserved for arbitrage - - - 756,470 756,470 Unreserved -

Undesignated - - - - - Unreserved, reported in other governmental funds

Designated for Compensating Balance fund 1,305,934 - 1,305,934 Designated for Insurance Recovery fund 118,494 - 118,494 Designated for Early retirement incentive fund - - 769,561 - 769,561

TOTAL FUND BALANCES 1,305,934 118,494 769,561 756,470 2,950,459 TOTAL LIABILITIES AND

FUND BALANCES 1,331,917$ 118,494$ 1,124,802$ 756,470$ 3,331,683$

71

TotalCompensating Insurance Early Retirement Nonmajor

Balance Recovery Incentive Arbitrage Governmental Fund Fund Fund Fund Funds

REVENUESLocal sources 340,173$ 62,056$ 354,061$ 5,889$ 762,179$ Intermediate sources - - - - - State sources - - - - - Federal sources - - - - -

TOTAL REVENUES 340,173 62,056 354,061 5,889 762,179

EXPENDITURESCurrent

Instruction 70,993 - 365,890 - 436,883 Student 42,508 - 79,635 - 122,143 Instructional staff - - 29,605 - 29,605 General administration - - - 16,947 16,947 School administration 51,190 1,400 78,874 - 131,464 Business 17,459 - - - 17,459 Operations and maintenance 22,198 27,588 - - 49,786 Student transportation 3,882 24,923 - - 28,805

Non-instruction expendituresChild Nutrition Operations 7,239 - - - 7,239 Community service operations 1,671 - - - 1,671 Other - - - - -

Capital outlay - - - - - Debt service

Principal - - - - - Interest - - - - -

TOTAL EXPENDITURES 217,140 53,911 554,004 16,947 842,002

EXCESS (DEFICIENCY) OFREVENUES OVER

(UNDER) EXPENDITURES 123,033 8,145 (199,943) (11,058) (79,823)

OTHER FINANCING SOURCES (USES)Issuance of debt - - - - - Transfers in - - - 140,205 140,205 Transfers out - - - - -

TOTAL OTHER FINANCINGSOURCES (USES) - - - 140,205 140,205

NET CHANGE IN FUND BALANCE 123,033 8,145 (199,943) 129,147 60,382

FUND BALANCE AT BEGINNINGOF YEAR 1,182,901 110,349 969,504 627,323 2,890,077

FUND BALANCE AT END OF YEAR 1,305,934$ 118,494$ 769,561$ 756,470$ 2,950,459$

72

Balance BalanceJune 30, June 30,

2008 Additions Deductions Adjustments 2009

HIGH SCHOOL TOTAL 295,661$ 424,989$ (371,460)$ 2,690$ 351,880$

INTERMEDIATE HIGH TOTAL 101,231 130,340 (152,095) 913 80,389

ALTERNATIVE TOTAL 4,951 8,610 (8,301) - 5,260

EIGHTH GRADE CENTER TOTAL 84,762 80,515 (72,015) 4,779 98,041

SIXTH/SEVENTH GRADE CENTER TOTAL 121,038 117,151 (108,941) 2,160 131,408

ELEMENTARY ACTIVITY FUNDS TOTAL 276,131 406,286 (390,225) 8,292 300,484

STUDENT CLUBS TOTAL 241,316 436,754 (385,716) 1,334 293,688

ADMINISTRATIVE TOTAL 1,027,200 356,254 (367,883) (20,168) 995,403

TOTAL FUNDS HELD FORSTUDENT ACTIVITIES 2,152,290$ 1,960,899$ (1,856,636)$ -$ 2,256,553$

SUMMARY-ACTIVITY FUNDS

ASSETSCash 2,162,876$ 1,966,573$ (1,856,636)$ -$ 2,272,813$

LIABILITIESAccounts payable and accrued liabilities 10,586 16,260 (10,586) - 16,260 Funds held for student activities 2,152,290 1,960,899 (1,856,636) - 2,256,553

TOTAL LIABILITIES 2,162,876$ 1,977,159$ (1,867,222)$ -$ 2,272,813$

See independent auditors' report

73

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74

2009 2008GOVERNMENTAL FUNDS CAPITAL ASSETS

Land 14,293,205$ 14,192,844$ Buildings 180,688,146 168,236,222 Improvements other than buildings 4,215,600 3,917,666 Machinery and equipment 38,534,159 34,014,318 Construction-in-progress 8,355,207 9,852,509

TOTAL GOVERNMENTAL FUNDS CAPITAL ASSETS 246,086,317$ 230,213,559$

INVESTMENTS IN GOVERNMENTAL FUNDSCAPITAL ASSETS BY SOURCE

General fund 3,180,816$ 3,294,714$ Special revenue fund 15,315,943 5,350,343 Capital projects fund 227,412,191 211,396,676 Donations - 1,231,966 Other sources 2,149 293,543 Unidentified source 175,218 8,646,317

TOTAL GOVERNMENTAL FUNDS CAPITAL ASSETS 246,086,317$ 230,213,559$

See independent auditors' report

75

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76

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77

This page is intentionally left blank.

78

Contents Page

Financial Trends ………………………………………………………………………………. 81-86

These schedules contain trend information to help the reader understand how theDistrict's financial performance and well-being have changed over time.

Revenue Capacity ………………………………………………………………………………. 87-90

These schedules contain information to help the reader assess the District's mostsignificant local revenue source, the property tax.

Debt Capacity ………………………………………………………………………………. 91-94

These schedules present information to help the reader assess the affordability of theDistrict's current levels of outstanding debt and the District's ability to issue additionalthe District's ability to issue additional debt in the future.

Demographic and Economic Information ………………………………………………………. 95-98

These schedules offer demographic and economic indicators to help the reader understandthe environment within which the District's financial activities take place.

Operating Information ……………………………………………………………………………… 99-108

These schedules contain service and other data to help the reader understand how theinformation in the District's financial report relates to the services the District provides andthe activities it performs.

Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensiveannual financial reports (CAFR) for the relevant year. The District implemented GASBStatement 34 in the fiscal year ended June 30 ,2001. Schedules presenting districtwideinformation include information beginning in that year.

Table of Contents

79

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80

2001

2002

2003

2004

2005

a20

06a

2007

2008

2009

Gov

ernm

enta

l act

iviti

es

Inve

sted

in c

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net o

f rel

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22,7

98,4

35

6,

892,

937

10

,053

,963

14,6

51,1

46

4,

655,

000

5,

955,

714

To

tal d

istri

ct n

et a

sset

s77

,373

,840

84,4

80,2

35

92

,715

,698

106,

227,

470

117,

233,

569

125,

367,

492

133,

079,

213

135,

009,

794

140,

042,

391

a The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ni

ne fi

scal

yea

rs a

re p

rese

nted

.

Net

Ass

ets b

y C

ompo

nent Fisc

al Y

ear e

ndin

g Ju

ne 3

0,

(acc

rual

bas

is o

f acc

ount

ing)

Las

t Nin

e Fi

scal

Yea

rsa

81

2001

2002

2003

2004

2005

2006

2007

b20

08c

2009

Exp

ense

sG

over

nmen

tal a

ctiv

ities

In

stru

ctio

n

R

egul

ar in

stru

ctio

n33

,199

,806

35

,457

,130

36

,889

,541

30

,298

,793

37

,806

,776

38

,283

,502

42

,667

,523

45

,516

,291

49

,629

,935

Sp

ecia

l edu

catio

n in

stru

ctio

n6,

238,

789

3,62

9,90

8

3,

545,

854

4,68

8,31

5

4,

665,

926

5,59

3,51

3

6,

178,

927

6,79

3,93

5

7,

275,

708

Voc

atio

nal e

duca

tion

195,

593

49

9,59

8

506,

460

50

0,45

6

461,

209

61

5,07

4

633,

877

70

3,85

8

793,

237

O

ther

inst

ruct

ion

2,07

8,55

2

2,

119,

542

2,12

3,42

1

4,

076,

391

3,68

3,35

8

4,

642,

999

5,16

8,65

6

6,

134,

777

6,15

2,12

0

Su

ppor

t Ser

vice

s

Pu

pil s

ervi

ces

3,59

2,76

4

3,

859,

569

4,17

8,77

3

4,

508,

084

4,18

5,96

3

4,

440,

099

5,29

0,04

2

6,

518,

814

6,34

5,35

5

In

stru

ctio

nal s

taff

serv

ices

2,05

4,70

1

2,

407,

173

2,62

3,83

9

2,

696,

354

2,91

5,88

0

3,

541,

667

3,77

6,07

5

4,

165,

969

4,40

8,66

8

G

ener

al a

dmin

istra

tion

serv

ices

752,

589

85

7,00

8

892,

275

69

7,07

9

1,09

5,27

5

1,

002,

064

1,24

8,32

3

1,

578,

563

1,80

2,45

5

Sc

hool

adm

inis

tratio

n se

rvic

es4,

154,

638

4,21

7,17

3

3,

996,

982

4,89

6,86

2

5,

139,

160

6,02

3,23

6

6,

869,

205

7,44

0,21

3

7,

688,

170

Bus

ines

s ser

vice

s1,

711,

679

1,73

1,37

2

1,

573,

293

4,26

8,20

1

4,

225,

520

5,12

1,98

9

5,

970,

849

6,33

3,40

0

6,

937,

956

Ope

ratio

ns a

nd m

aint

enan

ce se

rvic

es9,

128,

147

8,51

3,67

5

8,

893,

176

9,26

9,54

0

10

,975

,680

12

,288

,840

13

,011

,254

13

,113

,272

13

,334

,079

Pu

pil t

rans

porta

tion

serv

ices

2,27

1,20

3

2,

144,

481

2,43

9,05

5

2,

570,

888

2,58

4,08

7

2,

374,

353

2,87

6,19

5

3,

649,

174

3,77

1,82

6

C

entra

l ser

vice

s1,

766,

662

2,72

4,74

5

2,

027,

362

-

-

-

-

-

-

Oth

er su

ppor

t ser

vice

s19

5,53

9

473,

063

19

2,85

4

31,8

01

7,41

0

58

2,25

0

297,

187

25

2,56

6

367,

950

C

omm

unity

serv

ices

795,

581

86

7,03

3

780,

448

87

7,86

0

803,

775

64

6,30

7

789,

528

97

4,30

5

2,80

1,86

6

C

apita

l Out

lay

2,08

5,46

0

51

3,38

3

Inte

rest

on

long

-term

deb

t2,

737,

291

2,35

7,46

4

2,

404,

350

1,89

8,04

3

1,

848,

492

1,88

2,92

2

2,

319,

704

1,97

0,68

6

1,

608,

283

Loss

on

disp

osal

of c

apita

l ass

ets

-

24,7

44

69,4

24

29,3

19

85,1

40

-

15,4

77

-

-

Una

lloca

ted

depr

ecia

tion

645,

449

-

-

-

-

-

-

-

-

To

tal g

over

nmen

tal a

ctiv

ities

exp

ense

s71

,518

,983

71

,883

,678

73

,137

,107

71

,307

,986

80

,483

,651

87

,038

,815

97

,112

,822

10

7,23

1,28

3

11

3,43

0,99

1

B

usin

ess-

type

act

iviti

es

Food

serv

ice

2,55

3,11

5

2,

644,

997

2,59

5,99

0

2,

720,

792

3,03

0,25

9

3,

697,

466

3,84

5,04

6

4,

504,

683

4,63

4,62

0

To

tal b

usin

ess-

type

act

iviti

es e

xpen

se2,

553,

115

2,64

4,99

7

2,

595,

990

2,72

0,79

2

3,

030,

259

3,69

7,46

6

3,

845,

046

4,50

4,68

3

4,

634,

620

Tota

l dis

trict

exp

ense

s74

,072

,098

74

,528

,675

75

,733

,097

74

,028

,778

83

,513

,910

90

,736

,281

10

0,95

7,86

8

11

1,73

5,96

6

11

8,06

5,61

1

Prog

ram

Rev

enue

sG

over

nmen

tal a

ctiv

ities

C

harg

es fo

r ser

vice

s

R

egul

ar in

stru

ctio

n1,

075,

757

332,

549

38

7,92

6

502,

743

37

5,77

0

447,

137

42

7,64

5

370,

303

36

6,90

7

Ope

ratio

ns a

nd m

aint

enan

ce se

rvic

es40

5,41

2

354,

810

26

6,53

9

272,

044

48

6,64

4

420,

672

39

1,53

5

494,

775

54

6,32

3

Pupi

l tra

nspo

rtatio

n se

rvic

es50

,383

49

,942

49

,942

49

,941

46

,846

50

,030

49

,699

49

,829

60

,810

C

omm

unity

serv

ices

-

694,

879

67

7,98

3

699,

611

62

5,74

6

699,

034

89

0,91

5

995,

745

1,

131,

972

Oth

er su

ppor

t ser

vice

s9,

938

-

-

-

-

-

-

-

-

O

pera

ting

gran

ts a

nd c

ontri

butio

ns7,

808,

999

8,53

4,23

4

9,

288,

866

10,3

65,3

74

12,9

61,2

05

11,0

81,9

96

14,5

95,3

93

14,6

03,8

62

20,3

44,8

41

C

apita

l gra

nts a

nd c

ontri

butio

ns11

,645

3,

768

-

-

-

-

-

-

-

Tota

l gov

ernm

enta

l act

iviti

es p

rogr

am re

venu

es9,

362,

134

9,97

0,18

2

10

,671

,256

11

,889

,713

14

,496

,211

12

,698

,869

16

,355

,187

16

,514

,514

22

,450

,853

Cha

nges

in N

et A

sset

sL

ast N

ine

Fisc

al Y

ears

a

(acc

rual

bas

is o

f acc

ount

ing) Fi

scal

Yea

r end

ing

June

30,

82

2001

2002

2003

2004

2005

2006

2007

b20

08c

2009

Cha

nges

in N

et A

sset

sL

ast N

ine

Fisc

al Y

ears

a

(acc

rual

bas

is o

f acc

ount

ing) Fi

scal

Yea

r end

ing

June

30,

Bus

ines

s-ty

pe a

ctiv

ities

C

harg

es fo

r ser

vice

s

Fo

od se

rvic

e1,

523,

360

1,60

7,54

9

1,

545,

665

1,62

7,58

7

1,

633,

670

1,67

0,48

1

1,

824,

667

1,84

6,53

7

2,

100,

244

O

pera

ting

gran

ts a

nd c

ontri

butio

ns85

5,69

8

962,

505

1,

122,

390

1,26

5,65

3

1,

590,

718

1,85

6,41

4

2,

423,

226

2,57

7,54

0

3,

019,

310

C

apita

l gra

nts a

nd c

ontri

butio

ns51

,245

1,

552

30,8

34

111,

519

45

,600

11

4,76

2

-

-

-

Tota

l bus

ines

s-ty

pe a

ctiv

ities

pro

gram

reve

nues

2,43

0,30

3

2,

571,

606

2,69

8,88

9

3,

004,

759

3,26

9,98

8

3,

641,

657

4,24

7,89

3

4,

424,

077

5,11

9,55

4

To

tal d

istri

ct p

rogr

am re

venu

es11

,792

,437

12

,541

,788

13

,370

,145

14

,894

,472

17

,766

,199

16

,340

,526

20

,603

,080

20

,938

,591

27

,570

,407

Net

(Exp

ense

) Rev

enue

Gov

ernm

enta

l act

iviti

es(6

2,15

6,84

9)

(61,

913,

496)

(6

2,46

5,85

1)

(59,

418,

273)

(6

5,98

7,44

0)

(74,

339,

946)

(8

0,75

7,63

5)

(90,

716,

769)

(9

0,98

0,13

8)

Bus

ines

s-ty

pe a

ctiv

ities

(122

,812

)

(7

3,39

1)

102,

899

28

3,96

7

239,

729

(5

5,80

9)

402,

847

(8

0,60

6)

484,

934

To

tal d

istri

ct-w

ide

net e

xpen

se(6

2,27

9,66

1)

(61,

986,

887)

(6

2,36

2,95

2)

(59,

134,

306)

(6

5,74

7,71

1)

(74,

395,

755)

(8

0,35

4,78

8)

(90,

797,

375)

(9

0,49

5,20

4)

Gen

eral

Rev

enue

s and

Oth

er C

hang

es in

Net

Ass

ets

Gov

ernm

enta

l act

iviti

es

Taxe

s

Pr

oper

ty ta

x, le

vied

for g

ener

al p

urpo

ses

21,3

05,2

52

23,3

15,9

22

24,9

23,6

46

25,7

44,5

57

26,9

54,1

90

27,5

02,7

14

28,9

53,4

33

30,2

35,7

66

31,0

52,4

60

Prop

erty

tax,

levi

ed fo

r deb

t ser

vice

s14

,332

,307

16

,528

,839

17

,597

,219

18

,094

,314

18

,530

,671

15

,845

,469

17

,152

,566

17

,211

,390

18

,553

,902

O

ther

taxe

s4,

645,

244

4,70

8,66

3

4,

840,

896

3,78

9,47

2

4,

647,

151

4,68

1,57

5

5,

515,

782

5,01

7,88

1

5,

196,

047

St

ate

aid

not r

estri

cted

to sp

ecifi

c pr

ogra

ms

22,3

82,2

39

22,2

87,2

89

21,4

72,0

43

23,5

39,5

18

24,1

93,0

82

28,9

56,9

73

31,3

31,6

87

37,3

01,7

04

39,9

92,3

13

In

tere

st a

nd in

vest

men

t ear

ning

s3,

093,

181

1,70

7,86

7

1,

393,

318

1,16

9,35

3

1,

735,

761

2,99

7,62

4

3,

203,

223

2,02

0,46

5

51

8,46

1

G

ain

on d

ispo

sal o

f cap

ital a

sset

s-

-

-

-

-

97

4,22

2

-

-

-

O

ther

734,

659

50

2,53

8

330,

044

26

6,51

0

651,

898

1,

466,

558

1,83

4,11

3

88

4,94

1

201,

108

To

tal g

over

nmen

tal a

ctiv

ities

66,4

92,8

82

69,0

51,1

18

70,5

57,1

66

72,6

03,7

24

76,7

12,7

53

82,4

25,1

35

87,9

90,8

04

92,6

72,1

47

95,5

14,2

91

Bus

ines

s-ty

pe a

ctiv

ities

In

tere

st a

nd in

vest

men

t ear

ning

s41

,587

19

,659

13

,550

14

,217

27

,233

85

,715

75

,705

55

,809

13

,510

Oth

er25

,128

22

,506

27

,699

28

,137

13

,823

18

,828

-

-

To

tal b

usin

ess-

type

act

iviti

es66

,715

42

,165

41

,249

42

,354

41

,056

10

4,54

3

75,7

05

55,8

09

13,5

10

Tota

l dis

trict

-wid

e66

,559

,597

69

,093

,283

70

,598

,415

72

,646

,078

76

,753

,809

82

,529

,678

88

,066

,509

92

,727

,956

95

,527

,801

Cha

nge

in N

et A

sset

sb

Gov

ernm

enta

l act

iviti

es4,

336,

033

7,13

7,62

2

8,

091,

315

13,1

85,4

51

10,7

25,3

13

8,08

5,18

9

7,

233,

169

1,95

5,37

8

4,

534,

153

Bus

ines

s-ty

pe a

ctiv

ities

(56,

097)

(3

1,22

6)

144,

148

32

6,32

1

280,

785

48

,734

47

8,55

2

(24,

797)

49

8,44

4

Tota

l dis

trict

4,27

9,93

6

7,

106,

396

8,23

5,46

3

13

,511

,772

11

,006

,098

8,

133,

923

7,71

1,72

1

1,

930,

581

5,03

2,59

7

a The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ni

ne fi

scal

yea

rs a

re p

rese

nted

.b In

FY

08, t

he D

istri

ct re

cord

ed a

prio

r per

iod

adju

stm

ent t

o co

rrec

t the

FY

07 b

egin

ning

net

ass

ets.

See

Not

e A

in th

e N

otes

to th

e Fi

nanc

ial S

tate

men

tsfo

r a d

etai

led

expl

anat

ion.

cThe

200

5 G

AA

FR re

quire

s tha

t los

ses o

n th

e sa

le o

f cap

ital a

sset

s of g

over

nmen

tal a

ctiv

ities

be

repo

rted

as a

n ex

pens

e of

the

gene

ral g

over

nmen

t fun

ctio

n.

83

2001

2002

2003

2004

2005

2006

2007

b20

08c

2009

Gen

eral

Fun

d

Res

erve

d65

3,30

4

104,

801

19

8,83

9

170,

777

19

3,80

5

335,

756

24

6,54

9

350,

087

21

7,19

8

U

nres

erve

d6,

818,

511

7,83

3,64

8

8,

575,

849

9,42

6,79

4

9,

628,

949

12,8

41,0

83

12,1

63,3

13

13,3

44,2

95

17,0

79,4

91

Tota

l gen

eral

fund

7,47

1,81

5

7,

938,

449

8,77

4,68

8

9,

597,

571

9,82

2,75

4

13

,176

,839

12

,409

,862

13

,694

,382

17

,296

,689

All

Oth

er G

over

nmen

tal F

unds

R

eser

ved,

repo

rted

in:

38,2

17,8

25

40,3

13,5

03

38,4

16,1

80

41,4

98,0

62

38,0

98,6

38

33,6

73,2

43

34,8

13,9

38

S

inki

ng fu

nd

R

eser

ved

for d

ebt s

ervi

ce8,

730,

473

9,79

6,66

5

Bon

d fu

nd

R

eser

ved

for c

apita

l pro

ject

s26

,416

,877

25

,262

,515

Oth

er g

over

nmen

tal f

unds

Res

erve

d fo

r arb

itrag

e62

7,32

3

756,

470

Unr

eser

ved,

repo

rted

in:

Bui

ldin

g fu

nd4,

866,

517

5,51

5,56

8

6,

474,

917

7,12

9,30

2

6,

644,

461

7,64

3,70

8

5,

982,

523

4,87

4,51

2

4,

588,

372

Oth

er g

over

nmen

tal f

unds

D

esig

nate

d fo

r Com

pens

atin

g B

alan

ce fu

nd-

-

-

-

-

-

1,

031,

837

1,18

2,90

1

1,

305,

934

D

esig

nate

d fo

r Ins

uran

ce R

ecov

ery

fund

-

-

-

-

-

-

102,

154

11

0,34

9

118,

494

Des

igna

ted

for E

arly

retir

emen

t inc

entiv

e fu

nd-

-

-

-

-

-

81

8,34

4

969,

504

76

9,56

1

U

ndes

igna

ted

-

-

-

-

-

-

9,18

1

-

-

To

tal a

ll ot

her g

over

nmen

tal f

unds

43,0

84,3

42

45,8

29,0

71

44,8

91,0

97

48,6

27,3

64

44,7

43,0

99

41,3

16,9

51

42,7

57,9

77

42,9

11,9

39

42,5

98,0

11

a The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ni

ne fi

scal

yea

rs a

re p

rese

nted

.b B

egin

ning

in 2

006-

07, t

he D

istri

ct c

hang

ed th

e pr

esen

tatio

n of

unr

eser

ved

fund

bal

ance

s to

refle

ct it

s lim

itatio

ns o

n th

e us

e of

ava

ilabl

e cu

rren

t fin

anci

al re

sour

ces.

Prio

r to

2006

-07,

fun

d ba

lanc

es d

esig

nate

d fo

r com

pens

ated

bal

ance

s, in

curr

ed c

laim

s and

ear

ly re

tirem

ent i

ncen

tives

wer

e pr

esen

ted

as u

nres

erve

d in

the

gene

ral f

und.

c Beg

inni

ng in

200

7-08

, the

Dis

trict

cha

nged

the

pres

enta

tion

of re

serv

ed fu

nd b

alan

ces.

The

re a

re n

o un

rese

rved

fund

bal

ance

s in

the

sink

ing

fund

or b

uild

ing

fund

.

(mod

ified

acc

rual

bas

is o

f acc

ount

ing)

Las

t Nin

e Fi

scal

Yea

rsa

Fund

Bal

ance

s of G

over

nmen

tal F

unds

Fisc

al Y

ear e

ndin

g Ju

ne 3

0,

84

2001

2002

2003

2004

2005

2006

2007

2008

2009

Rev

enue

s

Loca

l sou

rces

39,1

29,7

23

41,0

70,7

96

43,1

83,6

08

44,5

47,5

74

46,9

84,8

92

48,3

56,2

37

49,2

79,3

13

49,5

45,6

43

52,6

57,9

09

In

term

edia

te so

urce

s1,

965,

824

2,29

5,33

7

2,

658,

519

2,58

7,26

2

2,

977,

543

3,34

9,33

8

3,

673,

503

3,16

3,31

3

3,

220,

869

St

ate

sour

ces

32,6

02,8

27

32,8

34,8

32

32,6

24,5

11

32,3

96,8

97

37,5

75,5

03

39,8

48,9

38

45,9

55,6

06

50,8

25,8

86

54,2

20,0

98

Fe

dera

l sou

rces

2,22

1,28

3

2,

686,

639

2,89

9,91

3

3,

550,

246

4,36

4,67

0

5,

255,

543

5,53

9,77

1

5,

776,

059

8,32

1,94

8

To

tal r

even

ue75

,919

,657

78

,887

,604

81

,366

,551

83

,081

,979

91

,902

,608

96

,810

,056

10

4,44

8,19

3

10

9,31

0,90

1

11

8,42

0,82

4

Expe

nditu

res

Cur

rent

In

stru

ctio

n34

,744

,436

38

,425

,797

40

,110

,968

36

,122

,022

41

,859

,274

43

,605

,503

51

,985

,668

53

,392

,683

57

,705

,606

Stud

ent

3,54

2,54

3

3,

839,

720

4,23

5,88

8

4,

547,

220

4,35

6,36

4

4,

433,

401

5,36

3,08

5

6,

357,

726

6,28

6,43

7

Inst

ruct

iona

l sta

ff1,

808,

599

2,22

9,90

9

2,

744,

151

2,70

9,60

5

3,

066,

857

3,47

6,40

5

3,

826,

101

4,05

9,05

2

4,

606,

186

G

ener

al a

dmin

istra

tion

609,

161

80

8,19

5

875,

004

69

5,25

0

1,10

3,30

2

99

6,00

4

1,25

5,41

4

1,

683,

588

1,76

1,63

7

Scho

ol a

dmin

istra

tion

3,96

3,45

9

4,

165,

611

4,15

8,62

1

5,

033,

251

5,36

5,22

7

6,

066,

017

7,20

6,17

3

7,

168,

559

7,50

8,68

3

Bus

ines

s1,

659,

243

1,72

5,05

9

1,

587,

130

3,89

1,68

3

4,

495,

703

4,95

7,32

7

5,

792,

730

5,86

3,81

6

6,

775,

282

O

pera

tions

and

mai

nten

ance

8,69

5,54

7

8,

442,

121

8,87

1,21

2

10

,007

,104

12

,006

,385

12

,073

,913

13

,188

,041

13

,050

,900

13

,714

,350

Stud

ent t

rans

porta

tion

1,88

6,07

0

1,

978,

011

3,62

0,18

4

2,

276,

095

2,48

7,55

5

2,

385,

547

4,19

3,48

8

3,

169,

865

4,48

5,70

9

Cen

tral

1,22

7,23

6

2,

146,

769

1,90

9,34

7

-

-

-

-

-

-

Oth

er25

0,81

8

343,

017

75

,131

19

,249

4,

236

27,0

38

158,

889

24

7,67

9

-

Non

-inst

ruct

ion

expe

nses

C

hild

nut

ritio

n op

erat

ions

364,

204

Com

mun

ity se

rvic

e op

erat

ions

715,

113

86

7,13

0

854,

681

90

8,86

8

770,

730

65

5,58

0

808,

090

1,

025,

158

2,76

9,67

8

Oth

er84

,175

C

apita

l out

lay

9,12

4,36

4

9,

415,

528

12,7

59,3

44

12,1

07,8

88

15,0

60,5

78

15,7

22,6

96

9,88

5,71

6

14

,090

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11

,651

,223

D

ebt s

ervi

ce

Prin

cipa

l12

,835

,000

15

,225

,000

14

,750

,000

15

,100

,000

16

,350

,000

16

,100

,000

15

,600

,000

15

,300

,000

15

,550

,000

Inte

rest

2,59

4,94

0

2,

496,

875

2,41

6,62

5

2,

104,

594

1,76

0,59

4

1,

582,

688

1,69

0,75

0

1,

907,

375

2,05

8,87

5

Oth

er

435

-

-

-

-

-

-

-

-

To

tal e

xpen

ditu

res

83,6

56,9

64

92,1

08,7

42

98,9

68,2

86

95,5

22,8

29

108,

686,

805

112,

082,

119

120,

954,

145

127,

317,

039

135,

322,

045

Exce

ss (d

efic

ienc

y) o

f rev

enue

s ove

r (un

der)

ex

pend

iture

s(7

,737

,307

)

(13,

221,

138)

(17,

601,

735)

(12,

440,

850)

(16,

784,

197)

(15,

272,

063)

(16,

505,

952)

(18,

006,

138)

(16,

901,

221)

Fisc

al Y

ear e

ndin

g Ju

ne 3

0,

(mod

ified

acc

rual

bas

is o

f acc

ount

ing)

Las

t Nin

e Fi

scal

Yea

rsa

Cha

nges

in F

und

Bal

ance

s of G

over

nmen

tal F

unds

85

2001

2002

2003

2004

2005

2006

2007

2008

2009

Fisc

al Y

ear e

ndin

g Ju

ne 3

0,

(mod

ified

acc

rual

bas

is o

f acc

ount

ing)

Las

t Nin

e Fi

scal

Yea

rsa

Cha

nges

in F

und

Bal

ance

s of G

over

nmen

tal F

unds

Oth

er fi

nanc

ing

sour

ces (

uses

)

Issu

ance

of d

ebt

12,0

00,0

00

16,4

00,0

00

17,5

00,0

00

17,0

00,0

00

13,1

25,1

15

15,2

00,0

00

17,1

70,0

00

19,4

44,6

20

20,0

00,0

00

Pr

emiu

ms o

n ne

w is

suan

ce o

f deb

t18

9,60

0

Tr

ansf

ers i

n1,

777,

664

1,48

3,08

9

1,

669,

494

1,16

4,14

9

73

3,50

3

1,33

5,82

6

2,

055,

151

1,78

2,91

3

1,

016,

305

Tr

ansf

ers o

ut(1

,777

,664

)

(1,4

50,5

88)

(1

,669

,494

)

(1,1

64,1

49)

(7

33,5

03)

(1,3

35,8

26)

(2

,045

,150

)

(1,7

82,9

13)

(1

,016

,305

)

Tota

l oth

er fi

nanc

ing

sour

ces (

uses

)12

,000

,000

16

,432

,501

17

,500

,000

17

,000

,000

13

,125

,115

15

,200

,000

17

,180

,001

19

,444

,620

20

,189

,600

Net

cha

nges

in fu

nd b

alan

ces

4,26

2,69

3

3,

211,

363

(101

,735

)

4,

559,

150

(3,6

59,0

82)

(7

2,06

3)

674,

049

1,

438,

482

3,28

8,37

9

Deb

t ser

vice

as a

per

cent

age

of

nonc

apita

l exp

endi

ture

sb20

.11%

21.6

8%21

.10%

21.6

0%19

.34%

17.8

9%16

.54%

15.1

4%14

.82%

a The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ni

ne fi

scal

yea

rs a

re p

rese

nted

.b N

onca

pita

l exp

endi

ture

s are

tota

l exp

endi

ture

s les

s cap

ital o

utla

y re

porte

d on

the

Rec

onci

liatio

n of

the

Stat

emen

t of R

even

ues,

Expe

nditu

res a

nd C

hang

es in

Fun

d B

alan

ce o

f G

over

nmen

tal F

unds

to th

e St

atem

ent o

f Act

iviti

es.

86

Rat

io o

f Gro

ssFi

scal

Ass

esse

d V

alue

Yea

rR

eal P

rope

rtyPe

rson

al P

rope

rtyPu

blic

Ser

vice

Pro

perty

Tota

lTo

tal

to T

otal

Ende

dA

sses

sed

Net

Ass

esse

dPr

oper

ty A

sses

sed

Net

Ass

esse

dEs

timat

edEs

timat

edTo

tal D

irect

June

30,

Val

uea

Val

uea

Val

ueb

Val

ueA

ctua

l Val

uec

Act

ual V

alue

Tax

Rat

ed

2000

333,

669,

634

75,3

62,4

71

19

,903

,266

42

8,93

5,37

1

4,

008,

793,

406

10

.70%

74.2

820

0137

2,61

5,58

9

80

,382

,723

21,8

87,9

29

474,

886,

241

4,42

6,00

1,65

3

10.7

3%71

.69

2002

405,

315,

585

85,7

42,4

14

20

,719

,080

51

1,77

7,07

9

4,

803,

652,

759

10

.65%

73.6

320

0343

0,34

9,60

7

86

,604

,080

32,0

39,1

07

548,

992,

794

5,04

1,47

0,26

8

10.8

9%73

.89

2004

453,

625,

924

89,5

67,3

34

27

,685

,707

57

0,87

8,96

5

5,

274,

344,

635

10

.82%

73.3

020

0547

4,66

1,67

6

86

,929

,063

24,3

21,0

11

585,

911,

750

5,42

4,55

2,70

6

10.8

0%72

.59

2006

498,

893,

897

88,5

67,1

22

23

,263

,576

61

0,72

4,59

5

5,

656,

237,

944

10

.80%

67.6

520

0752

2,08

2,14

1

93

,106

,851

22,8

26,0

22

638,

015,

014

5,90

7,27

7,10

1

10.8

0%68

.36

2008

545,

541,

198

95,6

93,5

41

24

,184

,955

66

5,41

9,69

4

6,

149,

826,

618

10

.82%

67.3

620

0956

5,26

4,78

8

99

,307

,726

23,0

41,2

64

687,

613,

778

6,35

8,33

8,25

6

10.8

1%68

.66

a Ass

esse

d va

lue

is d

efin

ed a

s the

taxa

ble

valu

e of

real

or p

erso

nal p

rope

rty a

nd is

subj

ect t

o an

ass

essm

ent r

ate

set b

y th

e C

ount

y A

sses

sor t

o ca

lcul

ate

the

amou

nt o

f tax

liab

ility

. T

he c

urre

nt a

sses

smen

t rat

e is

11%

for r

eal p

rope

rty a

nd 1

0% fo

r per

sona

l pro

perty

.b Pu

blic

serv

ice

prop

erty

is c

entra

lly a

sses

sed

by th

e O

klah

oma

Stat

e B

oard

of E

qual

izat

ion.

The

ass

essm

ent r

ates

on

publ

ic se

rvic

e pr

oper

ty, a

nd o

n ai

rline

s and

railr

oads

i

nclu

ded

in th

e pu

blic

serv

ice

cate

gory

, are

set a

t 22.

85%

and

11.

84%

resp

ectiv

ely.

c Estim

ated

act

ual v

alue

is u

sed

in c

ompu

ting

the

gros

s ass

esse

d va

lue

for t

ax p

urpo

ses.

The

Okl

ahom

a C

onst

itutio

n pr

ovid

es th

at th

is v

alue

will

not

exc

eed

a 5%

inc

reas

e ov

er th

e pr

evio

us y

ear u

nles

s im

prov

emen

ts w

ere

mad

e to

the

prop

erty

or i

f titl

e to

the

prop

erty

is tr

ansf

erre

d, c

hang

ed, o

r con

veye

d to

ano

ther

per

son.

d Com

pone

nts o

f tot

al d

irect

tax

rate

are

foun

d on

the

Dire

ct a

nd O

verla

ppin

g Pr

oper

ty T

ax R

ate

tabl

e.

Sour

ce: T

ulsa

Cou

nty

Ass

esso

r

Ass

esse

d an

d E

stim

ated

Act

ual V

alue

of T

axab

le P

rope

rty

Las

t Ten

Fis

cal Y

ears

87

TotalTotal Total Direct &

Fiscal Direct Tulsa Tulsa Comm Tulsa Tulsa Overlapping OverlappingYear General Building Sinking Rates County College VoTech City Rates Rates

2000 36.05 5.15 33.08 74.28 24.32 8.80 13.33 12.33 58.78 133.06 2001 36.05 5.15 30.49 71.69 23.93 8.70 13.33 12.02 57.98 129.67 2002 36.05 5.15 32.43 73.63 24.31 8.39 13.33 11.53 57.56 131.19 2003 36.05 5.15 32.69 73.89 23.83 8.31 13.33 11.23 56.70 131.59 2004 36.05 5.15 32.10 73.30 22.89 8.28 13.33 11.16 55.66 128.96 2005 36.05 5.15 31.39 72.59 22.61 7.21 13.33 10.11 53.26 125.85 2006 36.05 5.15 26.45 67.65 22.59 7.21 13.33 9.97 53.10 120.75 2007 36.05 5.15 27.16 68.36 22.21 7.21 13.33 12.67 55.42 123.78 2008 36.05 5.15 26.16 67.36 22.21 7.21 13.33 13.48 56.23 123.59 2009 36.05 5.15 27.46 68.66 22.21 7.21 13.33 14.08 56.83 125.49

127.39

TotalTotal Total Direct &

Fiscal Direct Tulsa Tulsa Comm Tulsa Broken Arrow Overlapping OverlappingYear General Building Sinking Rates County College VoTech City Rates Rates

2000 36.05 5.15 33.08 74.28 24.32 8.80 13.33 14.00 60.45 134.73 2001 36.05 5.15 30.49 71.69 23.93 8.70 13.33 14.90 60.86 132.55 2002 36.05 5.15 32.43 73.63 24.31 8.39 13.33 16.30 62.33 135.96 2003 36.05 5.15 32.69 73.89 23.83 8.31 13.33 16.48 61.95 136.84 2004 36.05 5.15 32.10 73.30 22.89 8.28 13.33 12.89 57.39 130.69 2005 36.05 5.15 31.39 72.59 22.61 7.21 13.33 15.08 58.23 130.82 2006 36.05 5.15 26.45 67.65 22.59 7.21 13.33 15.06 58.19 125.84 2007 36.05 5.15 27.16 68.36 22.21 7.21 13.33 15.74 58.49 126.85 2008 36.05 5.15 26.16 67.36 22.21 7.21 13.33 15.30 58.05 125.41 2009 36.05 5.15 27.46 68.66 22.21 7.21 13.33 15.72 58.47 127.13

130.68

127.29 mills.

Broken Arrow is 130.58 mills.

Note: A mill is the equivalent of $1 per $1,000 of net assessed value. The District's millage rate levy is pursuant to provisions of the Constitution of the State of Oklahoma contained in Article X. The County Excise Board certifies the Estimate of Needs submitted by the District annually and computes the rate of mill levy necessary for general fund, building fund and sinking fund purposes. Once the levy is certified by the Excise Board, the county assessor extends said levies upon the tax rolls. Pursuant to a recent amendment to the Oklahoma Constitution enabling local school districts to seek permanent voter approval of a 5-mill emergency levy, a 5.15-mill building levy, and a 10-mill local support levy, the District submitted such permanent levies to the voters at an election held on February 13, 2001. The permanent levies were approved, and the District no longer has to submit approval of these funding sources to voters on an annual basis.

Source: Tulsa County Clerk

bApproximately 14% of the District lies within the City of Broken Arrow. The ten-year tax levy average for property owners in the City of

Direct Rates Overlapping Rates

Direct Rates Overlapping Rates

Direct and Overlapping Property Tax RatesLast Ten Fiscal Years

aApproximately 86% of the District lies within the City of Tulsa. The ten-year tax levy average for property owners in the City of Tulsa is

Union School District

Rates for Taxpayers in the City of Tulsaa

Rates for Taxpayers in the City of Broken Arrowb

Union School District

Ten-Year Average

Ten-Year Average

88

Taxp

ayer

Taxa

ble

Ass

esse

d V

alue

Ran

k

% o

f Tot

al D

istri

ct

Net

Ass

esse

d V

alue

aTa

xabl

e A

sses

sed

Val

ueR

ank

% o

f Tot

al D

istri

ct

Net

Ass

esse

d V

alue

b

Woo

dlan

d H

ills M

all (

form

erly

RR

EEF

USA

Fun

d #3

)13

,456

,951

11.

96%

12,1

06,0

38

1

2.82

%Pu

blic

Ser

vice

Com

pany

of O

klah

oma

11,0

50,2

16

2

1.61

%4,

397,

769

5

1.03

%A

utom

otiv

e C

ompo

nent

s Hol

ding

LLC

(for

mer

ly F

ord

Mot

or

Com

pany

)7,

445,

808

3

1.08

%11

,898

,530

22.

77%

Sout

hCre

st H

ospi

tal

7,27

7,58

4

41.

06%

Wal

-Mar

t5,

969,

134

5

0.87

%Ex

pedi

tion

Prop

ertie

s3,

963,

487

6

0.58

%Te

ch R

idge

Pro

perti

es3,

945,

007

7

0.57

%Q

uick

Trip

3,81

9,28

5

80.

56%

ERP

Ope

ratin

g LP

/QR

3,71

7,89

5

90.

54%

2,86

2,74

4

100.

67%

Okl

ahom

a N

atur

al G

as2,

989,

128

10

0.43

%G

ener

al T

elep

hone

Co.

5,08

8,21

0

31.

19%

Hilt

i Cor

pora

tion

4,74

6,21

4

41.

11%

Stat

e Fa

rm In

sura

nce

3,77

2,23

1

60.

88%

Col

umbi

a C

rest

LLC

3,68

0,66

6

70.

86%

MC

I3,

548,

446

8

0.83

%B

erge

n B

runs

wig

n D

rug

3,25

6,57

7

90.

76%

Tota

l63

,634

,495

9.25

%55

,357

,425

12.9

1%

a Bas

ed o

n FY

08-0

9 N

et A

sses

sed

Val

uatio

n of

687

,613

,778

b Bas

ed o

n FY

99-0

0 N

et A

sses

sed

Val

uatio

n of

428

,935

,371

Sour

ce: T

ulsa

Cou

nty

Ass

esso

r

2009

2000

Prin

cipa

l Pro

pert

y T

axpa

yers

Cur

rent

Yea

r an

d N

ine

Yea

rs A

go

89

Fisc

alR

atio

of

Rat

io o

fY

ear

Tota

l Tax

Cur

rent

Perc

ent o

fD

elin

quen

tTo

tal

Tota

l Tax

Out

stan

ding

Del

inqu

ent

Ende

dLe

vied

for

Tax

Cur

rent

Tax

Tax

Tax

Col

lect

ion

Del

inqu

ent

Taxe

s to

June

30,

Fisc

al Y

ear

Col

lect

ions

Col

lect

edC

olle

ctio

nsC

olle

ctio

nto

Lev

yTa

xes

Tota

l Lev

y

2000

31,8

62,3

76

31

,184

,166

97.8

7%70

6,04

7

31

,890

,213

100.

09%

1,03

0,60

7

3.23

%20

0134

,045

,869

33,3

22,1

40

97

.87%

436,

813

33,7

58,9

53

99

.16%

1,09

5,24

7

3.22

%20

0237

,681

,583

37,0

47,4

30

98

.32%

401,

090

37,4

48,5

20

99

.38%

1,19

6,44

1

3.18

%20

0340

,564

,693

39,2

75,1

61

96

.82%

629,

746

39,9

04,9

07

98

.37%

1,05

8,31

2

2.61

%20

0441

,845

,428

40,6

11,8

05

97

.05%

706,

084

41,3

17,8

89

98

.74%

1,53

6,13

9

3.67

%20

0542

,531

,334

41,6

26,7

00

97

.87%

993,

048

42,6

19,7

48

10

0.21

%1,

453,

586

3.

42%

2006

41,3

13,0

14

40

,155

,225

97.2

0%68

7,93

0

40

,843

,155

98.8

6%1,

593,

293

3.

86%

2007

43,6

14,2

25

41

,923

,508

96.1

2%90

9,22

5

42

,832

,733

98.2

1%1,

429,

130

3.

28%

2008

44,8

22,6

71

43

,123

,100

96.2

1%89

3,78

5

44

,016

,884

98.2

0%1,

152,

965

2.

57%

2009

47,2

11,5

62

45

,842

,202

97.1

0%1,

032,

762

46

,874

,964

99.2

9%1,

401,

874

2.

97%

a The

Tuls

a C

ount

y A

sses

sor i

s req

uire

d to

file

a ta

x ro

ll re

port

on o

r bef

ore

Oct

ober

1 o

f eac

h ye

ar w

ith th

e Tu

lsa

Cou

nty

Trea

sure

r who

mus

t beg

in c

olle

ctin

g ta

xes b

y N

ovem

ber.

The

firs

t hal

f of t

axes

is d

ue a

nd p

ayab

le o

n or

bef

ore

Dec

embe

r 31.

The

seco

nd h

alf b

ecom

es d

ue a

nd p

ayab

le o

n or

'

befo

re M

arch

31.

If t

he fi

rst h

alf i

s not

pai

d by

Dec

embe

r 31,

the

tota

l tax

bec

omes

due

and

pay

able

on

Janu

ary

1.

b Ad

valo

rem

taxe

s not

pai

d on

or b

efor

e A

pril

1 ar

e co

nsid

ered

del

inqu

ent.

Inte

rest

acc

rues

on

delin

quen

t tax

es a

t the

rate

of o

ne a

nd o

ne-h

alf p

erce

nt m

onth

ly (1

8 pe

rcen

t ann

ually

) to

a m

axim

um o

f 100

per

cent

of t

he ta

xes d

ue u

ntil

such

tim

e as

the

delin

quen

t tax

es a

re p

aid.

If n

ot p

aid

by th

e f

ollo

win

g O

ctob

er 1

, the

pro

perty

is o

ffer

ed fo

r sal

e fo

r the

am

ount

of t

axes

due

.

Sour

ce: T

ulsa

Cou

nty

Trea

sure

r

Prop

erty

Tax

Lev

ies a

nd C

olle

ctio

nsL

ast T

en F

isca

l Yea

rs

Fisc

al Y

ear

of th

e L

evya

Subs

eque

nt Y

ears

bC

olle

cted

with

in th

eC

olle

cted

in

90

Fisc

alG

over

nmen

tal

Bus

ines

s-Ty

peR

atio

of

Ave

rage

Yea

rA

ctiv

ities

Act

iviti

esTo

tal

Out

stan

ding

Deb

tD

aily

Rat

io o

fEn

ded

Gen

eral

Obl

igat

ion

Gen

eral

Obl

igat

ion

Estim

ated

to E

stim

ated

Mem

bers

hip

Out

stan

ding

Deb

tJu

ne 3

0,B

onds

Bon

dsTo

tal D

istri

ctA

ctua

l Val

ueª

Act

ual V

alua

tionª

(AD

M)b

Per S

tude

ntb

2000

52,3

10,0

00

-

52,3

10,0

00

4,

008,

793,

406

1.30

%12

,830

4,07

7

20

0151

,475

,000

-

51

,475

,000

4,42

6,00

1,65

3

1.

16%

13,0

49

3,

945

2002

52,6

50,0

00

-

52,6

50,0

00

4,

803,

652,

759

1.10

%13

,239

3,97

7

20

0355

,400

,000

-

55

,400

,000

5,04

1,47

0,26

8

1.

10%

13,3

89

4,

138

2004

57,3

00,0

00

-

57,3

00,0

00

5,

274,

344,

635

1.09

%13

,719

4,17

7

20

0553

,950

,000

-

53

,950

,000

5,42

4,55

2,70

6

0.

99%

13,8

36

3,

899

2006

53,0

50,0

00

-

53,0

50,0

00

5,

656,

237,

944

0.94

%13

,993

3,79

1

20

0754

,450

,000

-

54

,450

,000

5,90

7,27

7,10

1

0.

92%

14,2

53

3,

820

2008

58,5

50,0

00

-

58,5

50,0

00

6,

149,

826,

618

0.95

%14

,360

4,07

7

20

0963

,000

,000

-

63

,000

,000

6,35

8,33

8,25

6

0.

99%

14,5

66

4,

325

app

ropr

iate

eco

nom

ic b

ase

than

per

sona

l inc

ome

on w

hich

to c

alcu

late

the

debt

ratio

.

b Sinc

e th

e D

istri

ct li

es w

ithin

the

boun

darie

s of t

wo

Okl

ahom

a ci

ties,

per c

apita

cal

cula

tions

are

bas

ed o

n th

e fin

al a

udite

d av

erag

e da

ily m

embe

rshi

p (A

DM

) c

ertif

ied

by th

e O

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion

as a

mor

e re

leva

nt in

dica

tor o

f the

deb

t rat

io.

See

Dem

ogra

phic

and

Eco

nom

ic S

tatis

tics.

Not

e: T

he D

istri

ct is

sues

onl

y ge

nera

l obl

igat

ion

bond

s.

Sour

ces:

D

istri

ct re

cord

sTu

lsa

Cou

nty

Ass

esso

rO

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion

Rat

ios o

f Out

stan

ding

Deb

t by

Typ

eL

ast T

en F

isca

l Yea

rs

ªEst

imat

ed a

ctua

l val

uatio

n is

take

n fr

om th

e ta

ble,

Ass

esse

d an

d Es

timat

ed A

ctua

l Val

ue o

f Tax

able

Pro

pert

y, w

hich

the

Dis

trict

con

side

rs a

mor

e

91

Fisc

alR

atio

of

Ave

rage

Yea

rG

ener

alLe

ssN

et G

ener

al

Tota

lN

et D

ebt

Dai

lyR

atio

of

Ende

dO

blig

atio

nSi

nkin

gB

onde

d D

ebt

Estim

ated

to E

stim

ated

Mem

bers

hip

Net

Deb

tJu

ne 3

0,B

onds

Fund

Bal

ance

Out

stan

ding

Act

ual V

alue

ªA

ctua

l Val

uatio

nª(A

DM

)bPe

r Stu

dent

b

2000

52,3

10,0

00

9,95

8,41

7

42

,351

,583

4,

008,

793,

406

1.06

%12

,830

3,30

1

20

0151

,475

,000

9,

997,

287

41,4

77,7

13

4,42

6,00

1,65

3

0.

94%

13,0

49

3,

179

2002

52,6

50,0

00

8,03

1,88

0

44

,618

,120

4,

803,

652,

759

0.93

%13

,239

3,37

0

20

0355

,400

,000

8,

755,

925

46,6

44,0

75

5,04

1,47

0,26

8

0.

93%

13,3

89

3,

484

2004

57,3

00,0

00

9,96

0,38

7

47

,339

,613

5,

274,

344,

635

0.90

%13

,719

3,45

1

20

0553

,950

,000

10

,331

,474

43

,618

,526

5,

424,

552,

706

0.80

%13

,836

3,15

2

20

0653

,050

,000

9,

055,

835

43,9

94,1

65

5,65

6,23

7,94

4

0.

78%

13,9

93

3,

144

2007

54,4

50,0

00

8,96

2,50

6

45

,487

,494

5,

907,

277,

101

0.77

%14

,253

3,19

2

20

0858

,550

,000

8,

730,

473

49,8

19,5

27

6,14

9,82

6,61

8

0.

81%

14,3

60

3,

469

2009

63,0

00,0

00

9,79

6,66

5

53

,203

,335

6,

358,

338,

256

0.84

%14

,566

3,65

3

b Sinc

e th

e D

istri

ct li

es w

ithin

the

boun

darie

s of t

wo

Okl

ahom

a ci

ties,

per c

apita

cal

cula

tions

are

bas

ed o

n th

e fin

al a

udite

d av

erag

e da

ily m

embe

rshi

p (A

DM

) c

ertif

ied

by th

e O

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion

as a

mor

e re

leva

nt in

dica

tor o

f the

deb

t rat

io.

See

Dem

ogra

phic

and

Eco

nom

ic S

tatis

tics.

Not

e: T

he D

istri

ct is

sues

onl

y ge

nera

l obl

igat

ion

bond

s.

Sour

ces:

D

istri

ct re

cord

sTu

lsa

Cou

nty

Ass

esso

rO

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion

app

ropr

iate

eco

nom

ic b

ase

than

per

sona

l inc

ome

on w

hich

to c

alcu

late

the

debt

ratio

.

Rat

ios o

f Net

Gen

eral

Bon

ded

Deb

t Out

stan

ding

Las

t Ten

Fis

cal Y

ears

ªEst

imat

ed a

ctua

l val

uatio

n is

take

n fr

om th

e ta

ble,

Ass

esse

d an

d Es

timat

ed A

ctua

l Val

ue o

f Tax

able

Pro

pert

y, w

hich

the

Dis

trict

con

side

rs a

mor

e

92

Estimated Net General AmountNet Amount Subject Percent Obligation Applicable

Assessed to Taxation in Applicable Bonded Debt to theJurisdiction Valuationa Districta to the Districtb Outstandingc District

As it applies to a resident of the City of Tulsa:

Direct: Union Public Schools 687,613,778 687,613,778 100.00% 53,203,335 53,203,335

Overlapping: Tulsa County (unincorporated) 8,710,318 2,126,035 24.41% - - Tulsa Technology Center #18 4,583,510,242 687,613,778 15.00% - - Tulsa Community College 4,583,510,242 687,613,778 15.00% - - City of Tulsa 2,934,134,698 532,417,035 18.15% 338,575,000 61,436,545 Total Overlapping 12,109,865,500 1,909,770,626 338,575,000 61,436,545

Total Direct and Overlapping 391,778,335 114,639,880

As it applies to a resident of the City of Broken Arrow:

Direct:Union Public Schools 687,613,778 687,613,778 100.00% 53,203,335 53,203,335

Overlapping: Tulsa County (unincorporated) 8,710,318 2,126,035 24.41% - - Tulsa Technology Center #18 4,583,510,242 687,613,778 15.00% - - Tulsa Community College 4,583,510,242 687,613,778 15.00% - - City of Broken Arrowd 532,090,525 152,858,389 28.73% 71,770,000 20,618,008 Total Overlapping 9,707,821,327 1,530,211,980 71,770,000 20,618,008

Total Direct and Overlapping 124,973,335 73,821,343

a2008-09 net assessed valuations as certified by the Tulsa County Assessor.

bEstimated percent was determined by the ratio of net assessed value of property subject to taxation in the District to the net assessed value of property in the overlapping unit.

cNet general obligation bonded debt outstanding as reported by the overlapping unit.

dThe City of Broken Arrow had judgments totaling $814,262 as of 6/30/2009 that are reported on the tax rolls but not included as a component of net general obligation bonded debt outstanding.

Direct and Overlapping Governmental Activities DebtAs of June 30, 2009

93

Leg

al D

ebt M

argi

n C

alcu

latio

n fo

r Fi

scal

Yea

r 20

09:

10%

of F

Y 2

008-

09 N

et A

sses

sed

Val

uatio

n68

,761

,377

D

ebt A

pplic

able

to L

imita

tion

63,0

00,0

00

Cur

rent

Sin

king

Fun

d B

alan

ce(9

,796

,665

)

53

,203

,335

Le

gal D

ebt M

argi

n15

,558

,042

Fisc

alLe

gal D

ebt L

imit

Yea

rN

et10

% o

f Net

Out

stan

ding

Less

Tota

l Net

Deb

tPe

rcen

t of

Ende

dA

sses

sed

Ass

esse

dG

O B

onde

dSi

nkin

gSu

bjec

t to

Lega

l Deb

tN

et D

ebt t

oJu

ne 3

0,V

alua

tiona

Val

uatio

nbIn

debt

edne

ssFu

nd B

alan

ceLe

gal L

imit

Mar

ginc

Deb

t Lim

it19

9938

8,93

2,65

0

38,8

93,2

65

45,0

70,0

00

8,49

0,69

7

36

,579

,303

2,

313,

962

94.0

5%20

0042

8,93

5,37

1

42,8

93,5

37

52,3

10,0

00

9,95

8,41

7

42

,351

,583

54

1,95

4

98.7

4%20

0147

4,88

6,24

1

47,4

88,6

24

51,4

75,0

00

9,53

1,61

9

41

,943

,381

5,

545,

243

88.3

2%20

0251

1,77

7,07

9

51,1

77,7

08

52,6

50,0

00

8,03

1,88

0

44

,618

,120

6,

559,

588

87.1

8%20

0354

8,99

2,79

4

54,8

99,2

79

55,4

00,0

00

8,75

5,92

5

46

,644

,075

8,

255,

204

84.9

6%20

0457

0,87

8,96

5

57,0

87,8

97

57,3

00,0

00

9,96

0,38

7

47

,339

,613

9,

748,

284

82.9

2%20

0558

5,91

1,75

0

58,5

91,1

75

53,9

50,0

00

10,3

31,4

74

43,6

18,5

26

14,9

72,6

49

74.4

5%20

0661

0,72

4,59

5

61,0

72,4

60

53,0

50,0

00

9,05

5,83

5

43

,994

,165

17

,078

,295

72

.04%

2007

638,

015,

014

63

,801

,501

54

,450

,000

8,

962,

506

45,4

87,4

94

18,3

14,0

07

71.3

0%20

0866

5,41

9,69

4

66,5

41,9

69

58,5

50,0

00

8,73

0,47

3

49

,819

,527

16

,722

,442

74

.87%

2009

687,

613,

778

68

,761

,378

63

,000

,000

9,

796,

665

53,2

03,3

35

15,5

58,0

43

77.3

7%

a Net

ass

esse

d va

luat

ion

is ta

ken

from

the

tabl

e, A

sses

sed

and

Estim

ated

Act

ual V

alue

of T

axab

le P

rope

rty.

b The

gene

ral o

blig

atio

n in

debt

edne

ss o

f the

Dis

trict

is li

mite

d by

Okl

ahom

a la

w to

10%

of t

he n

et a

sses

sed

valu

e of

the

taxa

ble

prop

erty

in th

e D

istri

ct.

c The

lega

l deb

t mar

gin

is th

e ad

ditio

nal d

ebt i

ncur

ring

capa

city

of t

he D

istri

ct a

s allo

wed

by

Okl

ahom

a la

w.

Not

e: T

he D

istri

ct h

as n

o de

faul

t of r

ecor

d on

prin

cipa

l and

inte

rest

pay

men

ts o

f its

gen

eral

obl

igat

ion

bond

ed in

debt

edne

ss.

Sour

ces:

D

istri

ct re

cord

sTu

lsa

Cou

nty

Ass

esso

r

Leg

al D

ebt M

argi

nL

ast T

en F

isca

l Yea

rs

94

Expe

nditu

reFi

scal

Ave

rage

App

ropr

iatio

nY

ear

Off

icia

l Sta

teD

aily

% C

hang

e in

Net

Ass

esse

dA

vera

ge D

aily

Stud

ent

App

rove

d by

Ende

dO

ctob

er 1

Mem

bers

hip

Ave

rage

Dai

lyV

alua

tion

Per S

tude

ntA

ttend

ance

Atte

ndan

ceC

ount

y Ex

cise

June

30,

Enro

llmen

tb(A

DM

)bM

embe

rshi

p(N

AV

)cN

AV

d(A

DA

)bPe

rcen

tage

Boa

rde

2000

12,9

7712

,830

N/A

428,

935,

371

33

,433

12,1

43

94

.65%

54,0

93,5

36

20

0113

,054

13,0

49

1.

71%

474,

886,

241

36

,392

12,3

95

94

.99%

58,6

12,8

03

20

0213

,315

13,2

39

1.

46%

511,

777,

079

38

,656

12,6

60

95

.63%

64,7

84,0

28

20

0313

,517

13,3

89

1.

13%

548,

992,

794

41

,004

12,7

22

95

.02%

64,4

76,4

47

20

0413

,819

13,7

19

2.

47%

570,

878,

965

41

,613

13,0

41

95

.06%

66,3

16,8

09

20

0513

,969

13,8

36

0.

86%

585,

911,

750

42

,346

13,1

43

94

.99%

72,7

02,3

29

20

0614

,101

13,9

93

1.

13%

610,

724,

595

43

,645

13,2

51

94

.69%

77,6

20,2

61

20

0714

,345

14,2

53

1.

86%

638,

015,

014

44

,765

13,4

50

94

.37%

86,0

45,6

83

20

0814

,519

14,3

60

0.

75%

665,

419,

694

46

,340

13,6

62

95

.14%

93,0

06,4

29

20

0914

,658

14,5

66

1.

44%

687,

613,

778

47

,207

13,9

74

95

.93%

101,

447,

717

a Uni

on P

ublic

Sch

ools

dis

trict

spec

ific

dem

ogra

phic

dat

ab O

btai

ned

from

the

Okl

ahom

a St

ate

Dep

artm

ent o

f Edu

catio

nc O

btai

ned

from

the

Tuls

a C

ount

y A

sses

sor

d Sinc

e th

e D

istri

ct li

es w

ithin

the

boun

darie

s of t

wo

Okl

ahom

a ci

ties,

per c

apita

cal

cula

tions

are

bas

ed o

n th

e fin

al a

udite

d av

erag

e da

ily m

embe

rshi

p (A

DM

) cer

tifie

d by

the

Okl

ahom

a St

ate

Dep

artm

ent o

f Edu

catio

n as

a m

ore

rele

vant

indi

cato

r of t

he d

ebt r

atio

.e O

btai

ned

from

Est

imat

e of

Nee

ds -

Gen

eral

Fun

d

Dem

ogra

phic

and

Eco

nom

ic S

tatis

ticsa

Las

t Ten

Fis

cal Y

ears

95

Fiscal TotalYear Personal Real

Ended Income Per Capita Labor UnemploymentJune 30, Populationb (in thousands)b Personal Incomec Forcec Rateb

2000 861,465 24,984,000 29,002 440,415 2.9%2001 868,243 27,242,700 30,733 443,383 0.0%2002 875,855 26,574,100 29,303 445,837 5.0%2003 878,650 26,728,700 28,808 442,397 6.1%2004 879,820 28,762,800 30,161 438,872 5.1%2005 885,778 30,723,200 31,083 443,221 4.3%2006 897,752 33,722,800 32,757 450,274 3.8%2007 910,619 35,821,600 33,474 452,677 4.1%2008d 922,457 37,647,200 39,423 457,722 4.6%2009e 925,698 39,312,500 34,923 434,674 5.0%

aTulsa MSA specific demographic databObtained from OSU Center for Applied Economic Research Oklahoma Economic OutlookcObtained from Tulsa Metro Chamber 2009 Economic ProfiledProjected estimate based on Tulsa Metro Chamber 2009 Economic Profile and OSU Center for Applied Economic Research 2009 Oklahoma Economic OutlookeProjected forecast based on Tulsa Metro Chamber 2009 Economic Profile and OSU Center for Applied Economic Research 2009 Oklahoma Economic Outlook

Note: Tulsa MSA comprises seven counties: Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa and Wagoner

Demographic and Economic Statisticsa

Last Ten Fiscal Years

96

Empl

oyer

Empl

oyee

sR

ank

Per

cent

age

of T

ulsa

C

ount

y Em

ploy

men

tbEm

ploy

ees

Ran

kPe

rcen

tage

of T

ulsa

C

ount

y Em

ploy

men

tc

Am

eric

an A

irlin

es7,

500

1

0.81

%10

,904

11.

27%

Tuls

a Pu

blic

Sch

ools

7,00

0

20.

76%

6,00

0

20.

70%

Sain

t Fra

ncis

Hea

lthca

re S

yste

m4,

500

3

0.49

%5,

040

3

0.59

%C

ity o

f Tul

sa4,

437

4

0.48

%3,

924

7

0.46

%St

. Joh

n M

edic

al C

ente

r2,

750

5

0.30

%4,

000

5

0.46

%B

ank

of O

klah

oma

2,71

9

60.

29%

Tuls

a C

omm

unity

Col

lege

2,50

0

70.

27%

Bro

ken

Arr

ow P

ublic

Sch

ools

2,30

0

80.

25%

One

OK

Inc.

2,10

0

90.

23%

4,00

0

60.

46%

NO

RD

AM

Gro

up2,

000

10

0.22

%H

illcr

est H

ealth

care

Sys

tem

0.00

%4,

300

4

0.50

%LD

DS

Wor

ldC

om3,

800

8

0.44

%C

omm

erci

al F

inan

cial

Ser

vice

s3,

200

9

0.37

%W

illia

ms E

nerg

y G

roup

2,75

5

100.

32%

30,3

06

3.

27%

37,0

19

4.

30%

a Tuls

a M

SA sp

ecifi

c de

mog

raph

ic d

ata

Sour

ces:

Tul

sa M

etro

Cha

mbe

r

c Bas

ed o

n th

e po

pula

tion

coun

t fro

m th

e Tu

lsa

Met

ro C

ham

ber 2

009

Econ

omic

Pro

file

of 8

61,3

74

2009

2000

Tul

sa A

rea

Prin

cipa

l Em

ploy

ersa

Cur

rent

Yea

r an

d N

ine

Yea

rs A

go

b Bas

ed o

n th

e es

timat

ed p

opul

atio

n co

unt f

rom

the

Tuls

a M

etro

Cha

mbe

r 200

9 Ec

onom

ic P

rofil

e of

925

,698

97

This page is intentionally left blank.

98

2001

2002

2003

2004

2005

2006

2007

2008

2009

Gov

ernm

enta

l Act

iviti

es

Inst

ruct

ion

121,

300,

703

133,

908,

078

148,

238,

260

164,

886,

634

17

6,66

7,15

0

184,

824,

453

19

6,57

1,02

0

208,

486,

847

22

1,38

0,01

3

St

uden

t-

19

,264

90

,398

12

3,66

0

12

6,05

5

21

2,98

0

14

4,81

1

13

8,24

6

18

2,26

7

Inst

ruct

iona

l sup

port

-

714,

773

834,

676

919,

716

491,

940

536,

641

533,

624

586,

827

970,

757

G

ener

al a

dmin

istra

tion

-

219,

337

219,

940

220,

655

58,4

07

64

,032

71,2

88

18

5,21

0

19

6,37

2

Scho

ol a

dmin

istra

tion

-

83,8

42

291,

110

456,

290

464,

879

499,

951

1,30

0,50

4

1,44

0,72

1

1,57

6,10

9

B

usin

ess

-

306,

506

360,

277

678,

973

794,

291

1,60

6,01

1

3,14

4,74

0

3,35

7,22

0

3,78

7,55

1

O

pera

tions

and

mai

nten

ance

933,

125

1,84

9,58

0

2,01

2,25

9

2,41

6,20

1

2,56

3,06

2

2,86

2,19

6

3,17

1,69

7

3,43

6,21

7

4,11

5,49

4

Tr

ansp

orta

tion

5,15

6,48

6

5,42

1,24

3

6,87

1,32

8

6,89

3,17

7

7,02

2,33

4

6,94

1,24

5

8,08

2,16

9

8,07

1,36

1

9,39

0,56

0

Su

ppor

t ser

vice

s2,

712,

694

5,

421,

225

5,

803,

563

3,

649,

529

3,

049,

948

2,

809,

449

2,

809,

449

2,

809,

449

2,

719,

248

Non

-inst

ruct

iona

l-

42

6,22

3

48

2,34

5

48

9,76

0

22

7,07

8

30

7,35

8

30

4,22

8

38

3,76

6

45

0,25

1

Oth

er-u

ncla

ssifi

ed11

,953

,654

3,80

0,19

1

3,02

7,95

3

3,00

0,83

7

3,00

0,83

7

1,31

7,69

5

1,31

7,69

5

1,31

7,69

5

1,31

7,69

5

T

otal

Gov

ernm

enta

l Act

iviti

es14

2,05

6,66

2

15

2,17

0,26

2

16

8,23

2,10

9

18

3,73

5,43

2

194,

465,

981

20

1,98

2,01

1

217,

451,

225

23

0,21

3,55

9

246,

086,

317

Bus

ines

s-T

ype

Act

iviti

es

Chi

ld n

utrit

ion

serv

ices

1,44

2,11

4

1,43

9,70

2

1,42

8,72

2

1,53

7,47

1

1,57

3,06

9

1,68

3,14

3

2,00

1,26

9

2,06

8,24

6

2,12

3,08

8

Tota

l Cap

ital A

sset

s14

3,49

8,77

6

15

3,60

9,96

4

16

9,66

0,83

1

18

5,27

2,90

3

196,

039,

050

20

3,66

5,15

4

219,

452,

494

23

2,28

1,80

5

248,

209,

405

a The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ni

ne fi

scal

yea

rs a

re p

rese

nted

.

Sour

ce: D

istri

ct re

cord

s

Fisc

al Y

ear E

ndin

g Ju

ne 3

0,

Cap

ital A

sset

s by

Func

tion

and

Act

ivity

Las

t Nin

e Fi

scal

Yea

rsa

99

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

a

Cer

tifie

d Pe

rson

nel

B

ache

lor's

Min

imum

Sal

ary

22,4

86

25

,641

26,0

41

26

,041

26

,041

26

,041

28

,425

31

,100

31

,600

31

,600

Max

imum

Sal

ary

35,3

42

39

,372

39,9

80

40

,080

40

,080

41

,282

44

,033

47

,133

48

,799

48

,799

Ave

rage

Sal

ary

27,8

94

31

,239

31,7

14

31

,469

31

,156

32

,675

33

,608

35

,941

36

,514

36

,301

Num

ber o

f Tea

cher

s48

1

50

0

50

4

48

9

47

4

51

2

54

4

57

9

59

363

5

Mas

ter's

Min

imum

Sal

ary

25,7

31

28

,886

29,2

86

29

,286

29

,286

29

,286

30

,486

32

,300

32

,800

32

,800

Max

imum

Sal

ary

39,3

04

43

,334

43,9

42

44

,042

44

,042

45

,363

48

,263

51

,363

52

,913

53

,479

Ave

rage

Sal

ary

35,1

18

38

,791

38,8

17

38

,402

37

,920

39

,689

40

,240

42

,318

43

,048

42

,604

Num

ber o

f Tea

cher

s29

0

28

2

29

4

28

0

27

1

28

9

28

9

29

9

30

830

9

Doc

tor's

Min

imum

Sal

ary

28,4

78

31

,633

32,0

33

32

,033

32

,033

32

,033

32

,233

33

,500

34

,000

34

,000

Max

imum

Sal

ary

40,6

78

44

,708

45,3

16

45

,416

45

,416

46

,778

49

,729

52

,829

55

,279

55

,870

Ave

rage

Sal

ary

36,2

70

39

,560

40,3

76

39

,795

39

,712

42

,596

43

,183

45

,986

46

,640

43

,612

Num

ber o

f Tea

cher

s12

13

14

13

14

12

12

13

15

16

Tota

l Cer

tifie

d Pe

rson

nel

783

795

812

782

759

813

845

891

916

960

Supp

ort P

erso

nnel

N

umbe

r of S

uppo

rt

537

548

575

583

591

602

617

660

712

769

Adm

inis

trativ

e Pe

rson

nel

N

umbe

r of A

dmin

istra

tors

51

53

53

57

49

64

64

72

72

71

a In 2

009,

ave

rage

sala

ry o

f cur

rent

and

prio

r yea

rs w

as re

-cal

cula

ted

from

a p

ay ta

ble

aver

age

to a

true

ave

rage

sala

ry to

refle

ct a

mor

e ac

cura

te a

vera

ge sa

lary

Sour

ce: D

istri

ct re

cord

s

Empl

oyee

cou

nts a

re ta

ken

from

the

cens

us in

form

atio

n th

at is

obt

aine

d ea

ch S

prin

g fo

r neg

otia

tion

purp

oses

.N

ote:

Sal

ary

rang

es a

re p

er th

e U

nion

Cla

ssro

om T

each

er's

Ass

ocia

tion

(UC

TA) M

aste

r Con

tract

whi

ch is

neg

otia

ted

annu

ally

.

Las

t Ten

Fis

cal Y

ears

Em

ploy

ee In

form

atio

n

100

Fisc

alA

vera

geY

ear

Dai

lyPu

pil/

Ende

dM

embe

rshi

pO

pera

ting

Cos

t Per

Perc

enta

geTe

achi

ngTe

ache

rN

umbe

r of

June

30,

(AD

M)a

Expe

nditu

resb

Pupi

lcC

hang

eSt

affd

Rat

ioG

radu

ates

e

2000

12,8

30

N/A

N/A

N/A

783

16:1

760

2001

13,0

49

74,0

72,0

98

5,

676

N

/A79

5

16

:176

9

20

0213

,239

74

,528

,675

5,62

9

-0.8

3%81

2

16

:175

1

20

0313

,389

75

,733

,097

5,65

6

0.48

%78

2

17

:175

9

20

0413

,719

74

,028

,778

5,39

6

-4.6

0%75

9

18

:187

0

20

0513

,836

83

,513

,910

6,03

6

11.8

6%81

3

17

:180

9

20

0613

,993

90

,736

,281

6,48

4

7.43

%84

5

17

:180

7

20

0714

,253

10

1,79

4,70

2

7,

142

10

.14%

891

16:1

899

2008

14,3

60

111,

735,

966

7,78

1

8.95

%91

6

16

:184

1

20

0914

,566

11

8,06

5,61

1

8,

106

4.

17%

960

15:1

965

a Fina

l aud

ited

aver

age

daily

mem

bers

hip

(AD

M) o

btai

ned

from

the

Okl

ahom

a St

ate

Dep

artm

ent o

f Edu

catio

n.

e Num

ber o

f gra

duat

es o

btai

ned

from

Dis

trict

reco

rds m

aint

aine

d by

the

Uni

on H

igh

Scho

ol R

egis

trar.

d Teac

hing

staf

f inc

lude

s all

certi

fied

pers

onne

l who

se p

ay is

bas

ed o

n th

e U

nion

Cla

ssro

om T

each

er's

Ass

ocia

tion

(UC

TA)

Mas

ter C

ontra

ct.

c Cos

t per

pup

il is

cal

cula

ted

by d

ivid

ing

oper

atin

g ex

pend

iture

s by

the

final

aud

ited

aver

age

daily

mem

bers

hip

(AD

M) c

ertif

ied

by th

e O

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion.

Ope

ratin

g St

atis

tics

Las

t Ten

Fis

cal Y

ears

b Ope

ratin

g ex

pend

iture

s are

the

tota

l exp

ense

s of t

he sc

hool

dis

trict

as r

epor

ted

in th

e G

over

nmen

t-Wid

e St

atem

ent o

f Act

iviti

es.

The

Dis

trict

impl

emen

ted

GA

SB 3

4 on

June

30,

200

1; th

eref

ore,

onl

y ei

ght f

isca

l yea

rs o

f fin

anci

al d

ata

are

pres

ente

d.

101

Fisc

alA

vera

geEs

timat

edA

vera

geY

ear

Dai

lyFr

ee a

nd

Free

and

Num

ber o

fN

umbe

r of

Num

ber o

fN

umbe

r of

Dai

lyEn

ded

Mem

bers

hip

Red

uced

Red

uced

Bre

akfa

sts

Lunc

hes

Bus

esM

iles

Hau

lJu

ne 3

0,(A

DM

)aC

ount

bPe

rcen

tage

Serv

edb

Serv

edb

Ope

rate

dbD

riven

b(A

DH

)a

2000

12,8

30

1,98

9

15.5

0%99

,566

1,

446,

923

91

83

4,94

4

7,

340

20

0113

,049

2,

031

15

.56%

101,

557

1,47

5,86

1

94

834,

050

7,52

2

2002

13,2

39

2,36

8

17.8

9%12

9,83

2

1,

886,

765

94

83

8,81

6

8,

034

20

0313

,389

2,

687

20

.07%

143,

985

1,91

2,94

3

92

735,

000

8,38

6

2004

13,7

19

3,52

8

25.7

2%18

5,20

4

1,

333,

299

92

82

6,11

3

8,

283

20

0513

,836

4,

101

29

.64%

263,

750

1,29

4,76

4

92

831,

682

7,89

1

2006

13,9

93

4,58

6

32.7

7%33

5,98

3

1,

148,

763

92

82

0,53

2

7,

810

20

0714

,253

5,

320

37

.33%

413,

191

2,07

6,21

0

106

830,

680

8,25

3

2008

14,3

60

5,72

8

39.8

9%47

5,84

6

1,

445,

585

10

6

86

4,34

3

10

,334

20

0914

,566

6,

015

41

.29%

497,

407

1,27

7,95

3

116

852,

377

8,89

5

a Fina

l aud

ited

aver

age

daily

mem

bers

hip

(AD

M) a

nd a

vera

ge d

aily

hau

l (A

DH

) obt

aine

d fr

om th

e O

klah

oma

Stat

e D

epar

tmen

t of E

duca

tion

b Obt

aine

d fr

om D

istri

ct re

cord

s

Tran

spor

tatio

nC

hild

Nut

ritio

n

Supp

ort S

ervi

ces S

tatis

tics

Las

t Ten

Fis

cal Y

ears

102

Dis

trict

Bui

ldin

g20

0020

0120

0220

0320

0420

0520

0620

0720

0820

09

Elem

enta

ry:

And

erse

n El

emen

tary

(198

4)

Squa

re F

eet

67,7

09

67

,709

67,7

09

67

,709

67,7

09

67

,709

67,7

09

67

,709

67,7

09

67

,709

C

apac

ity (s

tude

nts)

600

600

600

600

600

600

600

600

600

600

En

rollm

ent

673

463

517

519

531

530

567

549

505

475

Pe

rcen

tage

of C

apac

ity U

sed

112.

17%

77.1

7%86

.17%

86.5

0%88

.50%

88.3

3%94

.50%

91.5

0%84

.17%

79.1

7%B

oeve

rs E

lem

enta

ry (1

975)

Sq

uare

Fee

t59

,773

59,7

73

59

,773

59,7

73

59

,773

59,7

73

59

,773

59,7

73

59

,773

59,7

73

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t59

6

56

0

59

9

60

4

65

9

68

2

65

6

42

6

44

2

48

1

Perc

enta

ge o

f Cap

acity

Use

d99

.33%

93.3

3%99

.83%

100.

67%

109.

83%

113.

67%

109.

33%

71.0

0%73

.67%

80.1

7%B

riarg

len

Elem

enta

ry (1

971)

Sq

uare

Fee

t61

,349

61,3

49

61

,349

61,3

49

61

,349

61,3

49

61

,349

61,3

49

61

,349

61,3

49

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t61

4

62

0

59

6

57

9

62

5

61

5

57

6

57

6

58

9

53

8

Perc

enta

ge o

f Cap

acity

Use

d10

2.33

%10

3.33

%99

.33%

96.5

0%10

4.17

%10

2.50

%96

.00%

96.0

0%98

.17%

89.6

7%C

edar

Rid

ge E

lem

enta

ry (1

994)

Sq

uare

Fee

t82

,000

82,0

00

82

,000

82,0

00

82

,000

82,0

00

82

,000

82,0

00

82

,000

82,0

00

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t63

1

61

3

59

8

60

0

58

0

55

4

52

9

54

5

56

6

59

1

Perc

enta

ge o

f Cap

acity

Use

d10

5.17

%10

2.17

%99

.67%

100.

00%

96.6

7%92

.33%

88.1

7%90

.83%

94.3

3%98

.50%

Cla

rk E

lem

enta

ry (1

977)

Sq

uare

Fee

t71

,480

71,4

80

71

,480

71,4

80

71

,480

71,4

80

71

,480

71,4

80

71

,480

71,4

80

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t64

7

54

7

59

0

64

5

55

7

61

5

65

9

70

2

77

6

55

6

Perc

enta

ge o

f Cap

acity

Use

d10

7.83

%91

.17%

98.3

3%10

7.50

%92

.83%

102.

50%

109.

83%

117.

00%

129.

33%

92.6

7%D

arna

by E

lem

enta

ry (1

979)

Sq

uare

Fee

t73

,458

73,4

58

73

,458

73,4

58

73

,458

73,4

58

73

,458

73,4

58

73

,458

73,4

58

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t67

2

54

0

54

3

51

4

49

0

53

8

48

8

56

4

53

8

57

1

Perc

enta

ge o

f Cap

acity

Use

d11

2.00

%90

.00%

90.5

0%85

.67%

81.6

7%89

.67%

81.3

3%94

.00%

89.6

7%95

.17%

Fisc

al Y

ear E

ndin

g Ju

ne 3

0,

Las

t Ten

Fis

cal Y

ears

Scho

ol B

uild

ing

Info

rmat

ion

103

Dis

trict

Bui

ldin

g20

0020

0120

0220

0320

0420

0520

0620

0720

0820

09Fi

scal

Yea

r End

ing

June

30,

Las

t Ten

Fis

cal Y

ears

Scho

ol B

uild

ing

Info

rmat

ion

Gro

ve E

lem

enta

ry (1

974)

Sq

uare

Fee

t60

,777

60,7

77

60

,777

60,7

77

60

,777

60,7

77

60

,777

60,7

77

60

,777

60,7

77

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t66

5

54

9

56

3

57

5

61

2

61

5

60

0

59

0

62

1

57

5

Perc

enta

ge o

f Cap

acity

Use

d11

0.83

%91

.50%

93.8

3%95

.83%

102.

00%

102.

50%

100.

00%

98.3

3%10

3.50

%95

.83%

Jarm

an E

lem

enta

ry (1

991)

Sq

uare

Fee

t68

,592

68,5

92

68

,592

68,5

92

68

,592

68,5

92

68

,592

68,5

92

68

,592

68,5

92

Cap

acity

(stu

dent

s)60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

60

0

Enro

llmen

t64

3

59

7

60

7

59

0

60

8

63

9

60

7

60

3

60

6

55

9

Perc

enta

ge o

f Cap

acity

Use

d10

7.17

%99

.50%

101.

17%

98.3

3%10

1.33

%10

6.50

%10

1.17

%10

0.50

%10

1.00

%93

.17%

McA

uliff

e El

emen

tary

(198

7)

Squa

re F

eet

70,3

16

70

,316

70,3

16

70

,316

70,3

16

70

,316

70,3

16

70

,316

70,3

16

70

,316

C

apac

ity (s

tude

nts)

600

600

600

600

600

600

600

600

600

600

En

rollm

ent

570

655

654

656

754

634

710

607

630

518

Pe

rcen

tage

of C

apac

ity U

sed

95.0

0%10

9.17

%10

9.00

%10

9.33

%12

5.67

%10

5.67

%11

8.33

%10

1.17

%10

5.00

%86

.33%

Moo

re E

lem

enta

ry (2

000)

Sq

uare

Fee

t-

74

,632

74,6

32

74

,632

74,6

32

74

,632

74,6

32

74

,632

74,6

32

74

,632

C

apac

ity (s

tude

nts)

-

600

600

600

600

600

600

600

600

600

En

rollm

ent

-

537

576

626

649

652

654

578

596

470

Pe

rcen

tage

of C

apac

ity U

sed

-

89.5

0%96

.00%

104.

33%

108.

17%

108.

67%

109.

00%

96.3

3%99

.33%

78.3

3%Pe

ters

Ele

men

tary

(197

8)

Squa

re F

eet

70,8

93

70

,893

70,8

93

70

,893

70,8

93

70

,893

70,8

93

70

,893

70,8

93

70

,893

C

apac

ity (s

tude

nts)

600

600

600

600

600

600

600

600

600

600

En

rollm

ent

633

605

626

659

577

602

615

584

587

574

Pe

rcen

tage

of C

apac

ity U

sed

105.

50%

100.

83%

104.

33%

109.

83%

96.1

7%10

0.33

%10

2.50

%97

.33%

97.8

3%95

.67%

Ros

a Pa

rks (

2006

)

Squa

re F

eet

-

-

-

-

-

-

-

-

71,3

00

71

,300

C

apac

ity (s

tude

nts)

-

-

-

-

-

-

-

-

600

600

En

rollm

ent

-

-

-

-

-

-

-

-

479

612

Pe

rcen

tage

of C

apac

ity U

sed

-

-

-

-

-

-

-

-

79.8

3%10

2.00

%Th

omas

Jeff

erso

n (2

008)

a

Sq

uare

Fee

t-

-

-

-

-

-

-

-

72

,000

69,3

56

Cap

acity

(stu

dent

s)-

-

-

-

-

-

-

-

60

0

60

0

Enro

llmen

t-

-

-

-

-

-

-

-

-

47

3

Perc

enta

ge o

f Cap

acity

Use

d-

-

-

-

-

-

-

-

0.

00%

78.8

3%

104

Dis

trict

Bui

ldin

g20

0020

0120

0220

0320

0420

0520

0620

0720

0820

09Fi

scal

Yea

r End

ing

June

30,

Las

t Ten

Fis

cal Y

ears

Scho

ol B

uild

ing

Info

rmat

ion

Seco

ndar

y:6t

h/7t

h G

rade

Cen

ter (

1993

)

Squa

re F

eet

276,

126

27

6,12

6

276,

126

27

6,12

6

276,

126

27

6,12

6

276,

126

27

6,12

6

276,

126

27

6,12

6

C

apac

ity (s

tude

nts)

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

En

rollm

ent

1,95

1

2,06

2

2,09

9

2,10

3

2,15

2

2,19

4

2,15

6

2,21

0

2,13

7

2,12

1

Pe

rcen

tage

of C

apac

ity U

sed

88.6

8%93

.73%

95.4

1%95

.59%

97.8

2%99

.73%

98.0

0%10

0.45

%97

.14%

96.4

1%8t

h G

rade

Cen

ter (

1982

)

Squa

re F

eet

139,

845

13

9,84

5

139,

845

13

9,84

5

139,

845

13

9,84

5

165,

620

16

5,62

0

165,

620

16

5,62

0

C

apac

ity (s

tude

nts)

1,10

0

1,10

0

1,10

0

1,10

0

1,10

0

1,10

0

1,30

0

1,30

0

1,30

0

1,30

0

En

rollm

ent

1,00

0

977

1,00

9

1,01

8

1,05

9

1,09

1

1,13

2

1,10

9

1,13

9

1,13

7

Pe

rcen

tage

of C

apac

ity U

sed

90.9

1%88

.82%

91.7

3%92

.55%

96.2

7%99

.18%

87.0

8%85

.31%

87.6

2%87

.46%

Inte

rmed

iate

Hig

h Sc

hool

(198

7)

Squa

re F

eet

432,

564

43

2,56

4

432,

564

43

2,56

4

432,

564

43

2,56

4

432,

564

43

2,56

4

432,

564

43

2,56

4

C

apac

ity (s

tude

nts)

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

2,20

0

En

rollm

ent

1,92

1

1,98

6

2,01

1

2,00

7

2,10

8

2,15

6

2,22

0

2,30

8

2,26

4

2,32

5

Pe

rcen

tage

of C

apac

ity U

sed

87.3

2%90

.27%

91.4

1%91

.23%

95.8

2%98

.00%

100.

91%

104.

91%

102.

91%

105.

68%

Seni

or H

igh

Scho

ol (1

972)

Sq

uare

Fee

t47

3,14

9

473,

149

47

3,14

9

473,

149

47

3,14

9

473,

149

61

1,11

9

611,

119

61

1,11

9

611,

119

Cap

acity

(stu

dent

s)2,

200

2,

200

2,

200

2,

200

2,

200

2,

200

2,

200

2,

200

2,

200

2,

200

Enro

llmen

t1,

761

1,

743

1,

727

1,

822

1,

858

1,

852

1,

932

1,

937

2,

044

2,

082

Perc

enta

ge o

f Cap

acity

Use

d80

.05%

79.2

3%78

.50%

82.8

2%84

.45%

84.1

8%87

.82%

88.0

5%92

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94.6

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106

Coverage DeductibleEffective 7/1/2008 - 6/30/2009

School Package Policy (1)

Building and Contents (All Locations) 411,496,215 3,000/5,000 Includes Equipment Breakdown (Boiler & Machinery) Property Damage/Wind, Hail & Lightning

Electronic Data Processing (Hardware/Software/Media) 18,850,000 2,500/2,500Electronic Equipment/Laptops

Earthquake 10,000,000 25,000

Flood 5,000,000 25,000

General Liability 1,000,000 1,000

Employee Benefits Liability 2,000,000 2,500

Automobile Liability 1,000,000 1,000

Umbrella 5,000,000 -

School Leaders Professional Liability Includes Employment Practices Liability (2) 1,000,000 50,000

Storage Tank Pollution Liability (3) 1,000,000 5,000

Fiduciary Liability Includes $25,000 for fines in connection with HIPAA law violations (4) 2,000,000 2,500

Workers' Compensation (5) 500,000

Effective 8/16/2007 - 6/30/2009Medical Professional Liability (6) 1,000,000 single occurrence 10,000

2,000,000 aggregateEffective 7/1/2004 - 6/30/2009

Crime (7) 5,000,000 15,000

(1) National American Insurance Co.(2) Westchester Insurance Co. (ACE)(3) Zurich North America(4) Chubb Insurance(5) CompSource Oklahoma (OSAG)(6) Admiral Insurance Co.(7) Chubb Insurance

Source: International Insurance Brokers

Note: The District is currently self-insured for health insurance coverage. Employees were offered the choice of a PPO through Mutual Assurance Administrators (MAA) or an HMO through Community Care through June 30, 2009.

Insurance ScheduleJune 30, 2009

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