Lap Community Schools of Lapeer County Notes to Financial Statements “Juno 30,2018 Note 9 - Long-term Deb: Lang det activity forthe year endo une 30,2048 can be summa a foo: agen ‘Win Ge Skins __Aiions __fedons Eng satanen Wii Sond pap "Seton cles $ aaeson0 + 5 (aps5000) 8 anon $ —1575000 Unido prams 7.08508 2 _essis)__ayizam __saats Teal bor pape: ‘snes an Gomsisy —aaeszane —penst8 ongenstgaancee aso 7z00 seo asap tare cisnaes sotam, _sganaot __qitoeeon anton od "lice nota sygreame $1 $219 § _anzroae $ _ziqnorr ‘General Obigation Bonds and Contacte ‘The Scheel Dstt esves general bigaon bonds o prove forth asion an eatstucon of mor ‘apa aiiis. General obigston bonds aro det eigatons and pio tho lah ard et of foe School itl unk: bonds ar fly gusantod by the Sine of Mongan Govwrl cigars ‘standing thio 40,218 ar lowe Papas oor teal Rate Maing Oustag ‘S€00000 Line Tex Stoo tna tn on Bogan gangor ots 2 tym § ses 3778000 Lad Ta sono omealnaira Seno sasone aos 72362—ayanan seso00 sit ine ied ‘norma ane ot uo soa mots 30-49 ay 000 73000 sina Gunes ‘kia ode ain SiS c00n $2500 ara 40-80 ay20s7__snors.000 Tot gover ating S_A,a200%0 thor Lng term Linbites Conpenssed absences stbulable to the governmental sce wll be failed prey by to Genera Fund The ists wil goneraly be hglstod tragh tne Sheet Ditets onal Punt That fund wl nance the payent ef thes cl hy ering he es rs bead on meragerents {stosement of there nsranco Fk thal sould bo assume by dal f, sk ee ‘Feeusod hth n Noi 0. Th lpr iby adhe et OPER bel il be lad fom a ‘und rm sh the indivi mpoyes salen aro al, gary te Genel Fund,Lapeer Community Schools of Lapeer County ‘Notes to Financial Statements ‘tune 20, 2018 Note 9 - Long-term Debt (Continued) Debt Service Requieonts to Maturity ‘Annual det sae requerants to matuty forthe above bend elpatons ar a li: incest ast $ tgrem $ 2giaat0 § Yeisen ° tSer'n0 Vraom —{aerap Vantoa 74a sirsomso Zohan Seiaees «208 00 $_dsznou $3010.70 $1.966015,270 Note 10 - Risk Management ‘The Schoo Dist is osod io various ek of ss relted to propa os, tos, vers aeons, _anl employ injures (voror’compencaton) os wll bs inode wanes proved to enpyee, Ths ‘Scho! Dist Not prdased conmarsal ence for rade, eatin opty lst and ors ad ‘amstons clans. The Scho Diet areas fn tho MAIL. shares isk program fer las roan fo ‘rapt las ad tots. The Scho! Bite spay snteieed or coin nd Vion Dent The ‘School bitte unsure! upto 4 $300,000 space once rtm int fr employee es {enor eamponsatin ine. illod eae wing fa he comma mourence have no seas the amount franc coverage mary oft past eo cal Year ‘Tha sharotssk poo pegram in which to School ist prtlptes oparaas asa common fk ahing management pogran ‘or sched dis hr Miigar tienberpreniume are sed to parce ‘Goma! excees houses covaage ant py marr cas h ancons of deduce sans “Tho Schoo ist etna the Sabi for snployoo ier lins an fo dona and vison ki that avn boon nd aight en of ho eal yar, cdg line bat fave bos opera = we ot ‘hago that hee net yt Len reported. Changs te stneod fal for tho pat two Beal our wore se olous: staid tly Bago yar $ssieo0 § eeran0 Eis aan eda Damn ete * ey Se xt ily Eno yor $__arap00 § e100 Note 11 - Michigan Public School Employees’ Retirement System Pian Desention “The Schl Dict patpales nf Mian Public Scot Employee" Releerent Stem (MPSERS ‘ortho “Systane 2 Stott, coc sharia, muliph-omplyerdtned beet puble oye etreent Seta governed by te Sato Mchigon that covers subst emsojocs of te School Disa {vay soo! ett employees ale rai cana corrosion relent ans alae tenets {trough tie Sys. The Systm proves rettemert, ane, ard dsabity benaes i lon members ‘ad thor burro, he Sys aso provides pstemployinent heals hanes Yo reliees and Selon nto ole a roca hace beat a