HILLSBOROUGH COUNTY SCHOOLS, FLORIDA

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1 HILLSBOROUGH COUNTY SCHOOLS, FLORIDA Summary of Statistical Data - Ten Year History, 1998 Cap. Improvement Average Number of Number of F.T.E. Expenditure School Year Schools Instructors Enrollment per F.T.E. Student 2013/ , ,718 $8, / , ,083 $8, / , ,579 $8, / , ,852 $9, / , ,786 $8, / , ,938 $8, / , ,639 $8, Debt Statement as of June 30, 2014, 1998 Cap. Improvement General Non-Self Self- DIRECT AND OVERLAPPING DEBT Obligation Supporting Supporting Debt Debt Debt DIRECT DEBT OF DISTRICT State of Florida: Series 2005-A $50,000 Series 2005-Q $17,555,000 Series 2006-A $2,655,000 Series 2008-A $4,445,000 Series 2009-A $2,410,000 Series 2010-A $3,470,000 Series 2011-A Series 2014-A District Bonds: Series 1998 Capital Improvement and Refunding Series 2005 Sales Tax Refunding Series 2006 Sales Tax Series 2007 Sales Tax Refunding $1,570,000 $2,486,000 $1,279,861 $109,610,000 $40,065,000 $47,515,000 Total Direct Debt $34,641,000 $198,469,861 OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT Board of County Commissioners: General Obligation Bonded Debt $68,163,000 Total Overlapping Debt $68,163,000 TOTAL DIRECT AND OVERLAPPING DEBT $68,163,000 $34,641,000 $198,469,861 Historical Community Investment Tax Collections and Distributions Series 2012A, 2010A, 2004C, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A Community Distributions to Investment Tax Hillsborough County Year Revenues Collected School Board 2014 $103,519,404 $25,879, $98,641,852 $24,660, $94,418,308 $23,604, $90,603,852 $22,650, $87,431,804 $21,857, $91,568,744 $22,892, $99,059,520 $24,764,880

2 Profile of Enrollments - Full-Time Equivalent Students Series 2012A, 2010A, 2004C, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A Pre-K/Kindergarten 15,173 14,855 13,955 13,444 13,328 12,793 13,050 Grades ,739 38,415 37,323 36,238 35,958 36,887 37,681 Grades ,569 58,450 58,560 58,388 57,883 57,825 57,914 Grades ,288 46,564 42,007 41,293 40,654 39,856 39,406 Exceptional Ed. 39,103 38,842 38,086 37,455 36,796 36,168 35,816 Vocational Ed. 4,846 1,955 5,648 6,034 6,166 6,409 6,772 Total 200, , , , , , ,639 Comparative Ratios of Bonded Debt Series 2012A, 2010A, 2004C, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A Hillsborough County, Florida Comparative Ratios of Bonded Debt And Certificates of Participation To Taxable Assessed Valuation and Per Capita Indebtedness As of June 30, Population (Fiscal Year) 1,291, Total Taxable Valuation (2013 Tax Year) $ 69,568,964, Direct General Obligation Debt $ - (a) As a Percent of Taxable Valuation 0% - 4. Direct and Overlapping General Obligation Debt $ 68,163,000 (a) As a Percent of Taxable Valuation 0.098% Direct Non-Self Supporting Revenue and Direct General Obligation Debt $ 34,641,000 (a) As a Percent of Taxable Valuation 0.050% Direct & Overlapping General Obligation Debt and Direct Non-Self Supporting Revenue Debt $ 102,804,000 (a) As a Percent of Taxable Valuation 0.148% Direct and Overlapping General Obligation, Direct Non- Self Supporting Revenue Debt and Certificates of Participation $ 930,312,000 (a) As a Percent of Taxable Valuation 1.337% Anticipated Capital Outlay Millage Required to Cover Debt Service Anticipated Capital Outlay Millage Required to Cover Maximum Annual Payments Taxable Assessed Valuation (Fiscal Year ) $ 69,568,964,523 Funds Generated from 1 Millage Levy $ 69,568,965 Maximum Annual Lease Payments $ 68,547,801 Levy which equals 1.00x Coverage of Maximum Annual Lease Payments mills

3 Tax Levies and Taxes Collected School District of Hillsborough County Property Tax Levies and Collections Last Ten Fiscal Years Collected to End of Tax Year Collected in Fiscal Year Total Current Tax Percent of Delinquent Total Percent Fiscal Year Tax Levy Collections Levy Collections Collections of Levy 2014 $ 538,166,770 $ 515,483, % $ 4,151,492 $ 519,634, % 2013 $ 521,066,245 $ 497,507, % $ 6,707,034 $ 504,214, % 2012 $ 535,661,273 $ 512,201, % $ 2,563,795 $ 514,765, % 2011 $ 537,023,488 $ 508,048, % $ 4,153,742 $ 512,202, ,883,201 $ 578,606, ,134,542 $ 583,740, ,871,440 $ 664,675, ,887,719 $ 667,563, ,885,929 $ 635,203, ,481 $ 636,178, ,369,811 $ 592,574, ,888 $ 593,035, ,534,878 $ 494,030, ,840 $ 494,833, ,234,393 $ 449,419, ,809,251 $ 452,228, ,174,861 $ 410,947, ,930 $ 411,579, ,429,175 $ 381,848, ,359,357 $ 383,207, School Board Millage Rates Historical and Current Millages DISTRICT LEVIES TAX LEVY Fiscal Year Ending June General Fund Nonvoted School Tax: State - Required Local Effort Local - Discretionary Local - Supplemental Capital Projects Fund Nonvoted School Tax: Local Capital Improvements Total Nonvoted millage Debt Service Fund Voted School Tax: Debt Service Total District Millage Levy Total Assessed Values and Taxable Values Hillsborough County, Florida School Taxable Value Assessed Value of Taxable Property (In Thousands) Total Net Taxable % Taxable Value Assessed Assessed Assessed For Operating Fiscal Year Value Value Valuation Millages 2014 $ 93,039,370 $ 87,642,064 $ 69,568,965 75% 2013 $ 86,787,329 $ 83,787,329 $ 65,836,681 76% 2012 $ 88,960,323 $ 85,121,195 $ 67,359,851 76% ,581,765 88,512,696 70,354, ,955,073 91,800,328 78,519, ,772, ,127,213 89,248, ,849, ,865,796 87,605, ,643, ,425,310 78,428, ,036,951 83,476,837 64,575, ,135,780 70,713,903 56,122, ,263,339 62,672,589 50,374, ,579,217 57,365,174 46,355,925 69

4 Description of Any Material Litigation, 1998 Cap. Improvement Fiscal Year Ending June 30, 2014 (Insert Required Information) None Summary of General Fund's Revenues and Expenses School District of Hillsborough County, Florida Summary of Revenues and Expenses - General Fund (in thousands) Audited Fiscal Years Ending 6/ Revenues Federal $ 2,079 $ 2,686 $ 2,066 $ 2,139 $ 7,982 $ 2,676 $ 2,660 Federal through State 9,054 8,464 9,205 9,427 8,416 9,421 10,272 State Sources 958, , , , , , ,806 Local 525, , , , , , ,640 Non Revenue and Transfers Total Revenues $ 1,495,631 $ 1,430,074 $ 1,369,379 $ 1,387,720 $ 1,377,523 $ 1,425,270 $ 1,505,378 Expenditures Current - Education: Instruction $ 926,745 $ 950,706 $ 858,319 $ 841,930 $ 915,032 $ 927,798 $ 1,005,516 Pupil Personnel 62,405 61,684 47,108 56,563 55,379 56,268 60,042 Instructional Media 44,914 43,933 43,949 44,648 48,718 45,686 51,506 Instruction & Curriculum Development 21,938 19,616 19,553 20,700 19,214 20,295 24,089 Instructional Staff Training 19,116 19,750 26,682 32,069 31,154 33,913 24,367 Board of Education 1,160 1,357 1,546 1,443 1,277 1,519 2,454 Gen. Administration 10,857 6,352 4,232 4,278 4,516 5,011 5,479 School Administration 91,181 91,700 89,201 88,684 86,554 87,260 91,821 Fiscal Services 8,300 6,278 6,813 6,926 5,999 6,635 7,225 Food Services Central Services 17,757 20,241 22,936 25,262 22,398 23,099 31,460 Pupil Transportation 64,277 65,127 64,259 69,053 66,274 65,362 68,446 Operation of Plant 106, , , , , , ,763 Maintenance of Plant 29,272 30,024 27,801 28,980 27,288 27,555 26,810 Community Services 31,270 36,120 33,794 33,754 40,994 42,229 44,451 Facilities Acquisition and Construction and Capital Outlay 10,870 6,951 7,654 19,836 8,635 7,482 7,063 Remittance and Transfers to Other Funds (11,946) (2,662) (3,150) (13,826) Total Expenditures & Other Uses $ 1,448,148 $ 1,470,216 $ 1,368,050 $ 1,369,829 $ 1,439,947 $ 1,454,638 $ 1,545,015 Ending Fund Balance Designated 43,935 46,436 54,915 - Undesignated 338, , ,255 - Nonspendable 4,742 4,955 5,223 5,088 Restricted 25,164 25,477 30,383 31,063 Assigned 236, , ,867 97,685 Unassigned 95,100 95,796 95,796 95,796 TOTAL ENDING FUND BALANCE $ 381,983 $ 341,841 $ 343,170 $ 361,061 $ 298,637 $ 269,269 $ 229,632

5 School District of Hillsborough County, Florida Summary of Revenues and Expenses - Special Revenue Fund Series 2002, 1998C.O.P. Audited FY FY FY FY FY FY FY Fiscal Year 6/ Revenues Federal - Direct $ 11,570 $ 19,254 $ 17,649 $ 15,758 $ 15,424 $ 12,476 $ 16,231 Federal - through State 118, , , , , , ,927 Federal - through Local 57,678 57,011 60,638 61,221 54,279 53,610 51,623 State , Local Total Revenues $ 188,588 $ 201,115 $ 302,618 $ 355,450 $ 214,201 $ 202,363 $ 210,041 Expenditures Instruction $ 77,843 $ 81,844 $ 150,436 $ 201,995 $ 87,265 $ 87,316 $ 83,201 Pupil Personnel Services 14,306 15,000 28,413 20,827 18,437 18,266 20,063 Instructional Media Services 3,072 3,439 4,420 5,058 4,132 4,134 4,382 Instructional & Curriculum 24,143 25,589 26,746 33,117 29,652 22,399 24,498 Instruction Staff Training 14,035 16,954 17,862 20,233 15,722 14,037 18,019 General Administration 2,251 4,428 8,361 7,689 5,769 6,175 7,466 School Administration ,452 5,093 2,108 2,212 2,197 Fiscal Services Food Service Central Services ,327 1,242 2,259 2,214 5,666 Pupil Transportation 1, , ,066 1,214 1,001 Operation of Plant , Maintenance of Plant Community Services 45,517 46,918 50,990 50,454 43,235 41,336 40,728 Facilities Acquisition & Construction , Other Capital Outlay 3,897 3,428 7,234 6,065 2,559 1,999 1,750 Total Expenditures $ 188,642 $ 201,174 $ 302,684 $ 355,526 $ 214,239 $ 202,396 $ 210,068 Excess Revenue (Deficit) (54) (59) (66) (76) (38) (33) (27) Beginning Fund Balance Transfers In (out) Ending Fund Balance $ - $ - $ - $ - $ - $ - $ - School District of Hillsborough County, Florida Summary of Revenues and Expenses - Capital Projects Fund Series 2002, 1998C.O.P. Audited FY FY FY FY FY FY FY Fiscal Year 6/ Revenues Federal - through State State Sources 66,635 20,545 6,331 11,538 3,499 3,975 6,492 Local Sources 196, , , , , , ,176 Total Revenues $ 262,896 $ 189,343 $ 130,795 $ 122,895 $ 117,119 $ 118,082 $ 131,668 Expenditures Current Education Facilities Acquisition & Construction 322, , ,020 82, ,781 79,894 73,715 Fixed Capital Outlay: Current Education Other Capital Outlay Total Expenditures $ 322,541 $ 268,030 $ 138,020 $ 82,900 $ 105,781 $ 79,894 $ 73,715 Excess (Deficiency) Revenues Over Expenditures (59,645) (78,687) (7,225) 39,995 11,338 38,188 57,953 Other Financing Sources (Uses) Operating Transfers In (Out) (66,774) (64,282) (66,657) (67,290) (69,001) (70,939) (74,342) Nonrevenue Sources 6, , Total Other Financing Sources (Uses) (60,248) (64,282) (65,964) (25,936) (68,908) (70,939) (74,342) Excess (Deficit) of Revenues and Other Sources Over Expenditures & Other Uses (119,893) (142,969) (73,189) 14,059 (57,570) (32,751) (16,389) Beginning Fund Balance 596, , , , , , ,676 Fund Balance at End of Year $ 477,096 $ 334,127 $ 260,938 $ 274,997 $ 217,427 $ 184,676 $ 168,287 Public Education Outlay Funds Series 2002, 1998C.O.P. Fiscal Year Ending June 30, 2014 (Insert Required Information)

6 School District of Hillsborough County, Florida Bonds, Notes and Capital Leases Outstanding as of June 30, 2014 Series 2002, 1998C.O.P. STATE BOARD OF EDUCATION BONDS (District Share) Issue Date of Amount Final Maturity Principal Issue Issued Dates Outstanding Series 2005-A Series 2005-B Series 2006-A Series 2008-A Series 2009-A 6/1/05 $1,145,000 1/1/25 $50,000 8/3/05 $37,360,000 1/1/20 $17,555,000 7/11/06 $3,650,000 1/1/26 $2,655,000 6/1/08 $5,085,000 1/1/28 $4,445,000 9/10/09 $4,620,000 1/1/29 $2,410,000 Series 2010-A 10/18/10 $4,205,000 1/1/30 $3,470,000 Series 2011-A 1/5/12 $1,685,000 1/1/23 $1,570,000 Series 2014-A 5/22/14 $2,486,000 1/1/25 $2,486,000 Total State Board of Education Bonds $34,641,000 LOCAL REVENUE BONDS Series 1998 Capital Improvement and Refunding 3/26/98 $5,998,225 8/1/28 $1,279,861 Series 2005 Sales Tax Refunding 3/1/05 $127,975,000 10/1/23 $109,610,000 Series 2006 Sales Tax 3/27/06 $54,860,000 10/1/26 $40,065,000 Series 2007 Sales Tax Refunding 4/2/07 $47,515,000 10/1/26 $47,515,000 Total Local Revenue Bonds $198,469,861 LOCAL DISTRICT BONDS Total Local District Bonds TOTAL BONDED DEBT $233,110,861 LOCAL SHORT TERM NOTES AND CAPITAL LEASES Total Local Short-Term Notes and Capital Leases TOTAL OUTSTANDING BONDS AND NOTES AND LEASES