Annual Comprehensive Financial Report
Each year, the external auditors for Des Moines Public Schools complete an Annual Comprehensive Financial Report reviewing the district’s financial management for the previous fiscal year.
Des Moines Public Schools has been widely recognized for its financial reports. The district routinely earns the Certificate of Achievement from the Government Finance Officers Association (GFOA) and the Certificate of Excellence in Financial Reporting from the Association of School Business Officials (ASBO).
Among the highlights of the school district’s most recent Annual Comprehensive Financial Report for year ending 6/30/2021, include:
- Budget: The State of Iowa legislatively approved a state supplemental aid factor of 2.4% for fiscal year 2021. In April 2020, the board approved an expenditure budget for fiscal year 2021 for all funds approved an expenditure budget for fiscal year 2021 for all funds of $557.8 million (without transfers) or $581.9 million (including transfers). In June 2021, the Board approved a budget amendment to increase expenditures by $16.5 million due to COVID-19 instruction and construction improvement expenses.
- Revenue: Government-wide revenues were $604.3 million for the year ended June 30, 2021, which primarily consisted of state aid, property taxes, federal grants, and local option sales taxes. General revenues accounted for 67.1% of the Government-wide revenue. Program revenues in the form of charges for services and operating grants and contributions accounted for 32.9% of total governmentwide fiscal year 2021 revenues.
- Expenses: Government-wide expenses for the year ended June 30, 2021, including business-type activities, were $533.7 million, of which $198.5 million of these expenses were offset by program specific charges for services or grants and contributions. General revenues of $405.8 million provided for the remaining costs of these programs.
- General Fund Balance and Solvency Ratio: The District’s overall General Fund balance increased from $125.1 million as of June 30, 2020 to $184.3 million as of June 30, 2021, an increase of $59.2 million. The General Fund unassigned portion of fund balance increased from $91.4 million as of June 30, 2020 to $152.0 million as of June 30, 2021, an increase of $60.6 million. The District’s solvency ratio increased from 21.0% as of June 30, 2020 to 31.2% as of June 30, 2021.
Copies of Annual Comprehensive Financial Reports for recent fiscal years are available below:
- Annual Comprehensive Financial Report, year ending June 2022
- Annual Comprehensive Financial Report, year ending June 2021
- Annual Comprehensive Financial Report, year ending June 2020