Budget vs Actual Comparison Between DCSD and CCSD

The following data was used to create the charts showing the Actual Ending Fund Balance versus the Budgeted Ending Fund Balance as reflected in the audited financials, the Comprehensive Annual Financial Report (CAFR), for each school district.

For Cherry Creek School District, we use the Actual (Budgetary Basis) Ending Fund Balance and the projected Final Budget Ending Fund Balance as reflected in their Final Budget (the amounts are indicated in the source document links below).

Cherry Creek School District:

Year     Revised Budget         Actual Budget              Source

2008     $46,187,648            $46,296,586                Page 50 of the CCSD FY2008 CAFR

2009     $53,660,427            $56,706,494                Page 50 of the CCSD FY2009 CAFR

2010     $67,591,555             $72,502,415                Page 50 of the CCSD FY2010 CAFR

2011     $74,905,466             $80,094,279               Page 54 of the CCSD FY2011 CAFR

2012     $74,898,044            $79,461,078               Page 60 of the CCSD FY2012 CAFR

As Douglas County School District (DCSD) does not report the projected Final Budget Ending Fund Balance in their CAFRs, it requires a simple calculation where one takes the Beginning General Fund Balance and adds/subtracts the Net Change to the General Fund under the Revised Budget Column.

Douglas County School District:

Year     Revised Budget         Actual Budget              Source

2008     $23,194,619             $20,188,058                Page 66 of the DCSD FY2008 CAFR

2009     $14,693,044             $20,620,947                Page 66 of the DCSD FY2009 CAFR

2010     $ 1,694,744               $40,093,277               Page 83 of the DCSD FY2010 CAFR

2011     $37,828,500            $66,438,139               Page 66 of the DCSD FY2011 CAFR

2012     $43,850,689             $83,093,701             See explanation below

Whenever it is possible to do so, we feel that it is important to use numbers from the Comprehensive Annual Financial Reports, which are audited documents.  One of the challenges in doing so with Douglas County is their new policy, implemented in 2012, to add Capital Projects to their General Fund Balance.  As we explain on this page of our website, Capital Projects should be removed from the General Fund Balance before making comparisons to other school districts, who do not include Capital Projects in their General Fund Balance.  While it is simple to calculate the General Fund Ending Balance (minus Capital Projects), we found it a little more challenging to calculate the Revised Budget Ending General Fund Balance for 2012.  In order to remove Capital Projects from both the Beginning General Fund Balance and the Net Change to the General Fund Balance we needed to know the Capital Projects Beginning Balance and the Revised Budget Net Change to Capital Projects.  We had to rely on the 4th Quarter Financials to find these numbers, as the General Fund no longer reports the Capital projects as a separate fund.  Because we were able to tie back the Revised Budget Net Change to funds that are reported on the the CAFR to the 4th Quarter Financials (such as the Athletics and Activities Fund and the Bond Redemption Fund), we subtracted out the beginning Capital Projects fund balance of ($14,111,699) from the Beginning General Fund Balance of ($80,549,837) and we subtracted out the Revised Budget net change to Capital Projects (-$2,153,130) from the Revised Budget Net Change to the General Fund Balance (-$24,740,102) and calculated the Revised Budget Ending Fund Balance to be $43,851,166.

Beginning General Fund Balance,
minus Capital Projects =
$66,438,138
($80,549,837$14,111,699)
Net Change in General Fund Balance,
minus Capital Projects =
-$22,586,972
(-$24,740,102 – (-$2,153,130)
Revised Budget Ending Fund Balance,
minus Capital Projects =
$43,851,166

 

The following chart provides the historical perspective of the fund balance with the carryover removed:

DCSD Revised Budget Actual Difference Carryover Variance with
Carryover removed
2012 $43,850,689 $83,093,701 $39,243,012 $19,121,379 $20,121,633
2011 $37,828,500 $66,438,139 $28,609,639 $16,831,076 $11,778,563
2010 $1,694,744 $46,093,727 $44,398,983 $14,541,659 $29,857,324
2009 $14,693,044 $20,620,947 $5,927,903 $7,518,941 $1,591,038