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CITY OF KINGSPORT, TENNESSEEBOARD OF EDUCATION
INTERNAL SCHOOL FUNDS – REGULATORY BASIS
For the Fiscal Year Ended June 30, 2015
DOBYNS-BENNETT HIGH SCHOOLROSS N. ROBINSON MIDDLE SCHOOL
JOHN SEVIER MIDDLE SCHOOLJOHN ADAMS ELEMENTARY SCHOOL
ANDREW JACKSON ELEMENTARY SCHOOLTHOMAS JEFFERSON ELEMENTARY SCHOOLANDREW JOHNSON ELEMENTARY SCHOOLJOHN F. KENNEDY ELEMENTARY SCHOOL
ABRAHAM LINCOLN ELEMENTARY SCHOOLTHEODORE ROOSEVELT ELEMENTARY SCHOOLGEORGE WASHINGTON ELEMENTARY SCHOOL
CITY OF KINGSPORT, TENNESSEEINTERNAL SCHOOL FUNDS-REGULATORY BASIS
TABLE OF CONTENTS
PAGE
Table of Contents 2-3
Independent Auditor’s Report 4-6
Financial Statements
Combined Balance Sheet – Regulatory Basis – All Schools 8-9
Combined Statement of Revenues, Expenditures, And Changes in Fund Balances – Regulatory Basis – All Schools 10-11
Notes to Financial Statements 12-17
Supplementary Information
Individual Financial Statements
Dobyns-Bennett High SchoolBalance Sheet – Regulatory Basis 19-22Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 23-26
Ross N. Robinson Middle SchoolBalance Sheet – Regulatory Basis 27Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 28-29
John Sevier Middle SchoolBalance Sheet – Regulatory Basis 30-31Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 32-33
John Adams Elementary SchoolBalance Sheet – Regulatory Basis 34Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 35
Andrew Jackson Elementary SchoolBalance Sheet – Regulatory Basis 36Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 37
Thomas Jefferson Elementary SchoolBalance Sheet – Regulatory Basis 38Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 39
Andrew Johnson Elementary SchoolBalance Sheet – Regulatory Basis 40Statements of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 41
John F. Kennedy Elementary SchoolBalance Sheet – Regulatory Basis 42Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 43
Abraham Lincoln Elementary SchoolBalance Sheet – Regulatory Basis 44Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 45
Theodore Roosevelt Elementary SchoolBalance Sheet – Regulatory Basis 46Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 47
George Washington Elementary SchoolBalance Sheet – Regulatory Basis 48Statement of Revenues, Expenditures, and Changes in
Fund Balances – Regulatory Basis 49
Other Information
Schedule of Interfund and Interaccount Transfers 51-52
Schedule of Fidelity Bond Coverage 53
Schedule of Salary Supplements 54-55
Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance WithGovernment Auditing Standards 57-58
Schedule of Findings 60-65
Your Success is Our Focus 1969 Lee Highway • P.O. Box 16999 • Bristol, VA 24209-6999 • 276-466-5248 • Fax: 276-466-9241 • www.BEcpas.com
INDEPENDENT AUDITOR’S REPORT
President and Members of the Kingsport, Tennessee Board of EducationKingsport, TN 37660
Report on the Financial Statements
We have audited the accompanying combined balance sheet – regulatory basis of the Kingsport, Tennessee Internal School Funds as of June 30, 2015, and the related combined statement of revenues, expenditures, and changes in fund balances-regulatory basis for the year then ended, and the related notes to the financial statements, which collectively comprise the City of Kingsport, Tennessee Internal School Funds’ financial statements, as listed in the table of contents.
We also have audited the individual school balance sheets – regulatory basis, and the individual school statements of revenues, expenditures and changes in fund balances – regulatory basis presented as supplementary information, as defined by the Government Accounting Standards Board, in the accompanying individual school financial statements as of and for the year ended June 30, 2015 as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and the fair presentation of these financial statements in accordance with the financial reporting provisions of the Tennessee Internal School Uniform Accounting Policy Manual. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
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 involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles
As described in Note 1 of the financial statements, the financial statements are prepared by the City of Kingsport, Tennessee Internal School Funds on the basis of the financial reporting provisions of the Tennessee Internal School Uniform Accounting Policy Manual, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of the State of Tennessee.
The effects on the financial statements of the variances between the regulatory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material.
Adverse Opinion on U.S. Generally Accepted Accounting Principles
In our opinion, because of the significance of the matter discussed in the “Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles” paragraph, the financial statements referred to above do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the City of Kingsport, Tennessee Internal School Funds as of June 30, 2015, or changes in financial position for the year then ended.
Unmodified Opinion on Regulatory Basis of Accounting
In our opinion, the combined financial statements referred to in the first paragraph present fairly, in allmaterial respects, the assets, liabilities and fund balances of the City of Kingsport, Tennessee InternalSchool Funds as of June 30, 2015, and the related revenue, expenditures and changes in fundbalances for the year then ended, in accordance with the financial reporting provisions of the TennesseeInternal School Uniform Accounting Policy Manual described in Note 1. In addition, in our opinion,the individual school financial statements referred to in the first paragraph present fairly, in all materialrespects, the assets, liabilities and fund balances of the City of Kingsport, Tennessee Internal SchoolFunds as of June 30, 2015, and the related revenue, expenditures and changes in fund balances forthe year then ended, in accordance with the financial reporting provisions of the TennesseeInternal School Uniform Accounting Policy Manual described in Note 1.
Other Matters
Other Information
Our audit was conducted for the purpose of forming an opinion on the combined financial statements –regulatory basis that collectively comprise the City of Kingsport, Tennessee Schools Internal SchoolFunds’ basic financial statements. In addition, our audit was conducted for the purpose of forming anopinion on the individual school financial statements – regulatory basis, presented as supplementaryinformation, as defined by the Government Accounting Standards Board. The schedule of interfund and interaccount transfers, as listed in the table of contents, is presented for purposes of additionalanalysis and is not a required part of the basic financial statements – regulatory basis of the schools. Asdescribed in Note 1 of the financial statements, the supplemental schedules and other information, aslisted in the table of contents, are prepared by the City of Kingsport, Tennessee Internal School Fundson the basis of the financial reporting provisions of the Tennessee Internal School Uniform AccountingPolicy Manual, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. The schedule of fidelity bond coverage and the schedule of salary supplements have not been subjected to the auditing procedures applied in the audit of the combined and individual fund financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
The schedule of interfund and interaccount transfers, as listed in the table of contents, is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements – regulatory basis. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements –regulatory basis and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements – regulatory basis themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of interfund and interaccount transfers, as listed in the table of contents, is fairly stated, in all material respects, in relation to the basic financial statements – regulatory basis as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated September 21, 2015 on our consideration of the City of Kingsport, Tennessee Internal School Funds internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City of Kingsport, Tennessee Internal School Funds internal control over financial reporting and compliance.
CERTIFIED PUBLIC ACCOUNTANTS
Bristol, VirginiaSeptember 21, 2015
FINANCIAL SECTION
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
COMBINED BALANCE SHEET - REGULATORY BASIS - ALL SCHOOLS
June 30, 2015
EXHIBIT 1
Dobyns-Bennett Ross N. Robinson John Sevier Total Elementary
High School Middle School Middle School Schools (Exhibit 2) Total
ASSETS
Cash in Bank Checking 493,751$ 72,728$ 92,445$ 137,316$ 796,240$
Cash on Hand 6,000 - - - 6,000
Accounts Receivable 187 96 25 15 323
Inventory 34,778 - - - 34,778
TOTAL ASSETS 534,716$ 72,824$ 92,470$ 137,331$ 837,341$
LIABILITIES AND FUND BALANCES
LIABILITIES:
Deferred Revenue 11,925$ -$ -$ -$ 11,925$
Due to Board of Education - 8,300 - - 8,300 Accounts Payable 22,259 486 - - 22,745
TOTAL LIABILITIES 34,184 8,786 - - 42,970
FUND BALANCES:
General Fund:Unassigned 23,245 13,773 13,359 80,785 131,162
Total General Fund 23,245 13,773 13,359 80,785 131,162
Restricted Fund:
Restricted 83,341 2,190 7,092 5,949 98,572 Assigned 393,946 48,075 72,019 50,597 564,637
Total Restricted Fund 477,287 50,265 79,111 56,546 663,209
TOTAL FUND BALANCES 500,532 64,038 92,470 137,331 794,371
TOTAL LIABILITIES ANDFUND BALANCES 534,716$ 72,824$ 92,470$ 137,331$ 837,341$
These notes are an integral part of these financial statements.
8
EXHIBIT 2
Adams Jackson Jefferson Johnson Kennedy Lincoln Roosevelt Washington Total
ASSETS
Cash in Bank Checking 14,197$ 17,775$ 15,100$ 20,674$ 12,991$ 17,902$ 15,143$ 23,534$ 137,316$
Accounts Receivable - - - - - - 15 - 15
TOTAL ASSETS 14,197$ 17,775$ 15,100$ 20,674$ 12,991$ 17,902$ 15,158$ 23,534$ 137,331$
LIABILITIES AND FUND BALANCES
LIABILITIES:
Deferred Revenue -$ -$ -$ -$ -$ -$ -$ -$ -$
Accounts Payable - - - - - - - - -
TOTAL LIABILITIES - - - - - - - - -
FUND BALANCES:
General Fund:
Unassigned 10,106 10,464 12,625 12,099 10,413 5,812 3,757 15,509 80,785
Total General Fund 10,106 10,464 12,625 12,099 10,413 5,812 3,757 15,509 80,785
Restricted Fund:
Restricted 46 2,716 500 2 - 18 1,500 1,167 5,949
Assigned 4,045 4,595 1,975 8,573 2,578 12,072 9,901 6,858 50,597
Total Restricted Fund 4,091 7,311 2,475 8,575 2,578 12,090 11,401 8,025 56,546
TOTAL FUND BALANCES 14,197 17,775 15,100 20,674 12,991 17,902 15,158 23,534 137,331
TOTAL LIABILITIES AND
FUND BALANCES 14,197$ 17,775$ 15,100$ 20,674$ 12,991$ 17,902$ 15,158$ 23,534$ 137,331$
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
COMBINED BALANCE SHEET - REGULATORY BASIS - ELEMENTARY SCHOOLS
June 30, 2015
The notes are an integral part of these financial statements.
9
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - REGULATORY BASIS - ALL SCHOOLS
For the Year Ended June 30, 2015
EXHIBIT 3
Dobyns-Bennett Ross N. Robinson John Sevier Total Elementary
High School Middle School Middle School Schools (Exhibit 4) Total
FUND BALANCES, JULY 1, 2014 500,736$ 55,659$ 90,706$ 133,028$ 780,129$
REVENUE 1,412,927 239,425 171,537 237,360 2,061,249
EXPENDITURES 1,409,566 231,046 169,773 233,057 2,043,442
EXCESS OF REVENUE OVER
(UNDER) EXPENDITURES 3,361 8,379 1,764 4,303 17,807
OTHER FINANCING SOURCES (USES):
Operating Transfers In 42,024 - - - 42,024
Operating Transfers Out (42,024) - - - (42,024)
TOTAL OTHER FINANCING
SOURCES (USES) - - - - -
EXCESS OF REVENUES AND OTHER
SOURCES OVER (UNDER)
EXPENDITURES AND OTHER USES 3,361 8,379 1,764 4,303 17,807
CHANGE IN RESERVE FOR INVENTORY (3,565) - - - (3,565)
FUND BALANCES, JUNE 30, 2015 500,532$ 64,038$ 92,470$ 137,331$ 794,371$
The notes are an integral part of these financial statements.
10
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - REGULATORY BASIS - ELEMENTARY SCHOOLS
For the Year Ended June 30, 2015
EXHIBIT 4
Adams Jackson Jefferson Johnson Kennedy Lincoln Roosevelt Washington Total
FUND BALANCES, JULY 1, 2014 13,634$ 20,528$ 8,728$ 23,299$ 12,291$ 12,665$ 11,720$ 30,163$ 133,028$
REVENUE 28,730 20,182 25,498 31,062 19,415 25,953 27,351 59,169 237,360
EXPENDITURES 28,167 22,935 19,126 33,687 18,715 20,716 23,913 65,798 233,057
EXCESS OF REVENUE OVER
(UNDER) EXPENDITURES 563 (2,753) 6,372 (2,625) 700 5,237 3,438 (6,629) 4,303
OTHER FINANCING SOURCES (USES):
Operating Transfers In - - - - - - - - -
Operating Transfers Out - - - - - - - - -
TOTAL OTHER FINANCING
SOURCES (USES) - - - - - - - - -
EXCESS OF REVENUES AND OTHER
SOURCES OVER (UNDER)
EXPENDITURES AND OTHER USES 563 (2,753) 6,372 (2,625) 700 5,237 3,438 (6,629) 4,303
CHANGE IN RESERVE FOR INVENTORY - - - - - - - - -
.
FUND BALANCES, JUNE 30, 2015 14,197$ 17,775$ 15,100$ 20,674$ 12,991$ 17,902$ 15,158$ 23,534$ 137,331$
The notes are an integral part of these financial statements.
11
CITY OF KINGSPORT, TENNESSEE BOARD OF EDUCATIONINTERNAL SCHOOL FUNDS
NOTES TO THE FINANCIAL STATEMENTSFor the Fiscal Year Ended June 30, 2015
(Continued)12
Background
Section 49-2-110, Tennessee Code Annotated, provides for internal school funds, establishes responsibility for those funds, and requires schools to adopt and follow a uniform accounting manual.
Note 1. Summary of Significant Accounting Policies
A. Financial Reporting Entity
This report includes only the internal school funds of the Kingsport, Tennessee Board of Education. Internal school funds consist of financial resources accounted for at the individual schools.
Internal School FundsInternal school funds reported in the accompanying financial statements include donations and grants made to the individual schools; fees collected by schools; funds received from the local board of education; funds raised through cooperative agreements; rental fees; and student activity funds.
Student Activity FundsStudent activity funds include all money received from any source for school-sponsored student activities or school-sponsored events held at or in connection with a school, and specifically include, but are not limited to funds:
Derived from a school-sponsored academic, art, athletic, or social event involving students;
Raised by school-sponsored clubs involving students; Raised by school-sponsored fundraisers involving students who are under the supervision
of a school employee; Received from a commission for the direct sale of items to students pursuant to a
cooperative agreement between the school and an outside organization; Received for the direct sale of items to students from a school-run bookstore located on
school grounds; Raised from fees charged to students; Obtained from interest from any account that contains student activity funds; Obtained from any related school-sponsored activity that involves the use of school
personnel, students, and property during the school day.
B. Other Comprehensive Basis of Accounting (OCBOA)
The accounting and financial reporting requirements for internal school funds are set forth in the Tennessee Internal School Uniform Accounting Policy Manual, issued by the Tennessee Department of Education. The requirements established in the Tennessee Internal School Uniform Accounting Policy Manual differ from generally accepted accounting principles primarily in the presentation of the financial statements and restricted fund revenue and expenditure accounting and reporting. The following is a summary of the basic requirements of this other comprehensive basis of accounting.
CITY OF KINGSPORT, TENNESSEE BOARD OF EDUCATIONINTERNAL SCHOOL FUNDS
NOTES TO THE FINANCIAL STATEMENTSFor the Fiscal Year Ended June 30, 2015
(Continued)13
Note 1. Summary of Significant Accounting Policies (Continued)
B. Other Comprehensive Basis of Accounting (OCBOA) (Continued)
The financial statements consist of balance sheets and statements of revenues, expenditures and changes in fund balances.
The combined financial statements present all of the individual schools in a columnar format and are required to be presented before the notes to the financial statements. These statements focus on each of the individual schools rather than the funds within the schools. In keeping with that focus, the columnar headings identify the individual schools rather than the funds.
The individual school financial statements present the detailed fund activity in each school and are included after the notes to the financial statements.
Revenues are classified by source and expenditures are classified by either function or object for the general fund but not the restricted fund. Revenues and expenditures of the restricted fund are recorded based on the specific group or activity which will benefit or expend the funds. The activity in the restricted “accounts” is presented as total revenues and transfers in and total expenditures and transfers out for each account. A corresponding “fund balance” is presented for each account. Although the restricted fund is a single fund, each account within the fund must present its portion of the restricted fund balance. Transfers reported on the financial statements represent authorized movement of funds between restricted accounts as well as between the general fund and restricted fund.
C. Measurement Focus and Basis of Accounting
The accompanying financial statements are reported using the current financial resources measurement focus. Accordingly, only current assets and current liabilities are included on the balance sheets and the fund balances report only spendable resources. Internal school funds use the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when they become both measurable and available. Management policies define available as collectible within 30 days after the fiscal year end. Expenditures are generally recognized when the related fund liability is incurred, if measurable.
D. Fund Structure
The accounts of the individual schools are organized on the basis of funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts which are comprised of the fund’s assets, liabilities, fund equity, revenues and expenditures. The funds are grouped in the accompanying financial statements as follows:
General FundThe general fund is used to account for all money to be used for the general operation of the school or for the welfare of the student body. Revenues and expenditures in this fund are not restricted to any specific group or activity.
Restricted FundThe restricted fund is used to account for money that is restricted for the use of a specific segment of the school population or legally restricted for a specific purpose and not intended to benefit the general school population.
CITY OF KINGSPORT, TENNESSEE BOARD OF EDUCATIONINTERNAL SCHOOL FUNDS
NOTES TO THE FINANCIAL STATEMENTSFor the Fiscal Year Ended June 30, 2015
(Continued)14
Note 1. Summary of Significant Accounting Policies (Continued)
E. Inventory
Inventories are stated at lower of cost (first-in, first-out) or market (net realizable value). The purchases method is used to account for inventories. Under the purchases methods, inventories are reported as an expenditure when purchased (or when received for donated items) rather than being capitalized as an asset. However, significant amounts of inventory, if any, on hand at year-end are reported as an asset in the financial statements. In accordance with generally accepted accountingprinciples, the fair value of donated goods and supplies are recognized as revenues and expenditures in the financial statements. For the current year no significant amounts of such donations were received.
F. Fund Balances
Nonspendable Fund BalanceFund balances reported as nonspendable in the accompanying financial statements represent amounts for inventory in the general fund.
Restricted Fund BalanceFund balances reported as restricted are the result of externally imposed restrictions placed upon certain resources accounted for in the restricted funds. This includes BEP (Basic Education Program) funds and grant funds.
When both restricted and unrestricted resources are available for use, it is the school system’s policy to use restricted resources first, then unrestricted resources as they are needed.
Assigned Fund BalanceAmounts that are constrained by each school’s intent to be used for specific purposes are reflected as assigned in the accompanying financial statements. This includes accounts reported in the restricted fund at each school, except for those that account for externally restricted resources as described above. Inventory amounts for restricted accounts are reflected as assigned because the use of the proceeds from the sale of those inventories is assigned. Board of Education allocation amounts not spent by the end of the fiscal year are reflected as assigned in the general fund because the Board’s intent is for those resources to be expended for instruction, administration, and/or operations and maintenance.
The Board of Education is authorized to assign amounts for specific purposes with respect to the amounts they allocate to the individual schools. The principal is the official authorized to assign all other amounts to a specific purpose. Authorization is established by the Tennessee Internal School Uniform Accounting Policy Manual.
Unassigned Fund Balance In accordance with generally accepted accounting principles, the general fund is the only fund at each school that reports amounts for unassigned fund balance. This classification represents fund balance that is not restricted and has not been assigned to specific purposes within the general fund.
When both assigned and unassigned resources are available for use, it is the school system’s policy to use assigned resources first, then unassigned resources as they are needed.
F. Fund Balances (Continued)
The fund balance detail for the City of Kingsport, Tennessee Internal School Funds is reflected below. Additional detail is provided on the individual school financial statements.
General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund
Fund Balances:
Nonspendable
Inventory -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Restricted for:
Grants Accounts - 8,676 - 2,190 - 7,001 - 46 - 2,716 - 500
Donation Accounts - - - - - - - - - - - -
Memorial Accounts - 73,825 - - - 91 - - - - - -
Scholarships - 840 - - - - - - - - - -
Other - - - - - - - - - - - -
Assigned to:
Athletic accounts - 61,066 - 23,861 - 7,862 - - - - - -
Booster Club Accounts - 68,126 - - - - - - - - - -
Class Accounts - - - 13,768 - 9,381 - - - 701 - -
Club accounts - 32,877 - 1,275 - 837 - 3 - - - -
Department Accounts - 81,209 - - - - - - - - - -
Other Accounts - 150,668 - 9,171 - 53,939 - 4,042 - 3,894 - 1,975
Unassigned 23,245 - 13,773 - 13,359 - 10,106 - 10,464 - 12,625 -
TOTAL FUND BALANCES 23,245$ 477,287$ 13,773$ 50,265$ 13,359$ 79,111$ 10,106$ 4,091$ 10,464$ 7,311$ 12,625$ 2,475$
Dobyns- Bennett High Ross N. Robinson Middle
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS - REGULATORY BASIS
NOTES TO THE FINANCIAL STATEMENTS
June 30, 2015
Note 1 - Summary of Significant Accounting Policies (Continued)
John Sevier Middle John Adams Elementary Andrew Jackson Elementary Thomas Jefferson Elementary
15
(Continued)
Note 1 - Summary of Significant Accounting Policies (Continued)
F. Fund Balances (Continued)
General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund General Fund Restricted Fund Total
Fund Balances:
Nonspendable
Inventory -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Restricted for:
Grants Accounts - 2 - - - 18 - - - - 21,149
Donation Accounts - - - - - - - 1,500 - - 1,500
Memorial Accounts - - - - - - - - - 60 73,976
Scholarships - - - - - - - - - - 840
Other - - - - - - - - 1,107 1,107
Assigned to:
Athletic accounts - - - - - - - - - - 92,789
Booster Club Accounts - - - - - - - - - - 68,126
Class Accounts - - - - - - - - - 3,008 26,858
Club accounts - - - - - - - - - - 34,992
Department Accounts - - - - - - - - - - 81,209
Other Accounts - 8,573 - 2,578 - 12,072 - 9,901 - 3,850 260,663
Unassigned 12,099 - 10,413 - 5,812 - 3,757 - 15,509 - 131,162
TOTAL FUND BALANCES 12,099$ 8,575$ 10,413$ 2,578$ 5,812$ 12,090$ 3,757$ 11,401$ 15,509$ 8,025$ 794,371$
Andrew Johnson Elementary
16
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS - REGULATORY BASIS
NOTES TO THE FINANCIAL STATEMENTS
June 30, 2015
George Washington ElementaryJohn F. Kennedy Elementary Abraham Lincoln Elementary Theodore Roosevelet Elementary
CITY OF KINGSPORT, TENNESSEE BOARD OF EDUCATIONINTERNAL SCHOOL FUNDS
NOTES TO THE FINANCIAL STATEMENTSFor the Fiscal Year Ended June 30, 2015
17
Note 2. Deposits
Legal Provisions
All deposits with financial institutions in excess of FDIC limits are required to be secured by one of two methods. Excess funds can be deposited with financial institution(s) that participates in the State of Tennessee Bank Collateral Pool administered by the state treasurer. For deposits with financial institutions that do not participate in the bank collateral pool, state statues require that all deposits be collateralized with collateral whose market value is equal to 105 percent of the uninsured amount of the deposits.
Cash Deposits
Cash in bank represents funds on deposit in various depositories. The total Cash in Bank-Checking balance for the elementary schools is $137,316 and the bank balance is $139,029. The total Cash in Bank-Checking balance for the middle schools is $165,173 and the bank balance is $171,685The total Cash in Bank-Checking balance for the high school is $493,751 and the bank balance is$519,825.
Custodial Credit Risk
Custodial credit risk is the risk that in the event of a bank failure, the school’s deposits may not be returned to it. None of the school’s deposits were exposed to custodial credit risk because all balances were entirely insured by the FDIC or through the Bank Collateral Pool with the State of Tennessee.
Note 3. Capital Assets
Capital assets acquired by the individual schools are recorded as expenditures at the time of purchase. Title and accountability for capital assets purchased pass automatically to the board of education.
Note 4. Reclassifications
Certain amounts in the prior year have been reclassified to conform to the current year presentation.
Note 5. Subsequent Events
The City of Kingsport, Tennessee Board of Education evaluated subsequent events through September 21, 2015, the date at which the report was available to be issued and concluded that no subsequent events have occurred that would require recognition in the Financial Statements ordisclosure in the Notes to the Financial Statements.
SUPPLEMENTARY INFORMATION
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 5
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Cash on Accounts Prepaid Total Accounts Deferred Fund Liabilities and
Checking Hand Receivable Asset Inventory Assets Payable Revenue Restricted Assigned Unassigned Balances Fund Balances
General Fund 17,058$ 6,000$ 187$ -$ -$ 23,245$ -$ -$ -$ -$ 23,245$ 23,245$ 23,245$
Restricted Funds:
Athletic Accounts:
Athletics 15,574$ -$ -$ -$ -$ 15,574$ 7,234$ 11,925$ -$ (3,585)$ -$ (3,585)$ 15,574$
Boys' Basketball Summer Camp 193 - - - - 193 - - - 193 - 193 193
Boys' Youth Basketball Summer Camp 782 - - - - 782 - - - 782 - 782 782
Cheerleaders 5,607 - - - - 5,607 - - - 5,607 - 5,607 5,607
Girls' Basketball Summer Camp 1,124 - - - - 1,124 - - - 1,124 - 1,124 1,124
Scoreboard Advertisements 14,597 - - - - 14,597 - - - 14,597 - 14,597 14,597
Scoreboard Payment 5,791 - - - - 5,791 - - - 5,791 - 5,791 5,791
Softball - DB / Eastman Classic 15,335 - - - - 15,335 210 - - 15,125 - 15,125 15,335
Softball Summer Camp 105 - - - - 105 - - - 105 - 105 105
Sparkle Squad 247 - - - - 247 - - - 247 - 247 247
Spirit Shakers 5,481 - - - - 5,481 - - - 5,481 - 5,481 5,481
Teddy Gaines Appreciation 415 - - - - 415 - - - 415 - 415 415
Tennis Court Maintenance - Comm. Projects 341 - - - - 341 - - - 341 - 341 341
Wellmont / HVMC Sponsorship 13,336 - - - - 13,336 - - - 13,336 - 13,336 13,336
Wrestling Summer Camp 1,507 - - - - 1,507 - - - 1,507 - 1,507 1,507
Booster Club Accounts
Aqua Kicks 9,399 - - - - 9,399 - - - 9,399 - 9,399 9,399
Baseball Boosters 6,709 - - - - 6,709 224 - - 6,485 - 6,485 6,709
Bowling Boosters 20 - - - - 20 - - - 20 - 20 20
Dugout Club 2,007 - - - - 2,007 - - - 2,007 - 2,007 2,007
Fin Club 5,744 - - - - 5,744 2,834 - - 2,910 - 2,910 5,744
Football Boosters 2,378 - - - - 2,378 2,363 - - 15 - 15 2,378
Girls' Basketball Boosters 1,890 - - - - 1,890 - - - 1,890 - 1,890 1,890
Golf Boosters - Boys' 41 - - - - 41 - - - 41 - 41 41
Golf Boosters - Girls' 1,244 - - - - 1,244 - - - 1,244 - 1,244 1,244
Slam Dunk Club 462 - - - - 462 - - - 462 - 462 462
Slam Dunk Club Scholarship 840 - - - - 840 - - 840 - - 840 840
Soccer Boosters 2,217 - - - - 2,217 - - - 2,217 - 2,217 2,217
Softball Boosters 20,969 - - - - 20,969 - - - 20,969 - 20,969 20,969
Take Down Wrestling Club 13,309 - - - - 13,309 - - - 13,309 - 13,309 13,309
Track Boosters 1,278 - - - - 1,278 1,250 - - 28 - 28 1,278
Volleyball Boosters 7,130 - - - - 7,130 - - - 7,130 - 7,130 7,130
Club Accounts
Beta Club 932 - - - - 932 - - - 932 - 932 932
The notes to the financial statements are an integral part of these financial statements.
(Continued)
19
EXHIBIT 5
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Cash on Accounts Prepaid Total Accounts Deferred Fund Liabilities and
Checking Hand Receivable Asset Inventory Assets Payable Revenue Restricted Assigned Unassigned Balances Fund Balances
Restricted Funds (Continued):
Club Accounts:
FBLA 677$ -$ -$ -$ -$ 677$ -$ -$ -$ 677$ -$ 677$ 677$
FCA 561 - - - - 561 - - - 561 - 561 561
FFA 1,498 - - - - 1,498 - - - 1,498 - 1,498 1,498
French Club 241 - - - - 241 - - - 241 - 241 241
German Club 7,604 - - - - 7,604 6,262 - - 1,342 - 1,342 7,604
HOSA 885 - - - - 885 - - - 885 - 885 885
JCL 5 - - - - 5 - - - 5 - 5 5
Junior Statesman 4 - - - - 4 - - - 4 - 4 4
Key Club 331 - - - - 331 - - - 331 - 331 331
Mu Alpha Theta 4,656 - - - - 4,656 - - - 4,656 - 4,656 4,656
National Honor Society 216 - - - - 216 - - - 216 - 216 216
Natural Helpers 621 - - - - 621 - - - 621 - 621 621
Northeast Tennessee Science Bowl 800 - - - - 800 - - - 800 - 800 800
Pre-Engineering Club 5,828 - - - - 5,828 - - - 5,828 - 5,828 5,828
Science Club 50 - - - - 50 - - - 50 - 50 50
Science Olympiad 167 - - - - 167 - - - 167 - 167 167
Senior Activity Club 10,674 - - - - 10,674 1,000 - - 9,674 - 9,674 10,674
Spanish Club 198 - - - - 198 - - - 198 - 198 198
Student Council 2,072 - - - - 2,072 - - - 2,072 - 2,072 2,072
Technology Club 1,027 - - - - 1,027 - - - 1,027 - 1,027 1,027
Teenage Republicans 76 - - - - 76 - - - 76 - 76 76
Video Club 534 - - - - 534 42 - - 492 - 492 534
World Language Club 348 - - - - 348 - - - 348 - 348 348
YDA 176 - - - - 176 - - - 176 - 176 176
Department Accounts
Activities Office 15,342 - - - 34,778 50,120 - - - 50,120 - 50,120 50,120
Art 783 - - - - 783 - - - 783 - 783 783
Auto Body 902 - - - - 902 - - - 902 - 902 902
Auto Mechanics 199 - - - - 199 - - - 199 - 199 199
BAM 736 - - - - 736 - - - 736 - 736 736
Band 3,036 - - - - 3,036 - - - 3,036 - 3,036 3,036
Central Office Fund 241 - - - - 241 - - - 241 - 241 241
Choral Music 385 - - - - 385 - - - 385 - 385 385
Cosmetology 1,562 - - - - 1,562 - - - 1,562 - 1,562 1,562
Criminal Justice 54 - - - - 54 - - - 54 - 54 54
Drafting 12 - - - - 12 - - - 12 - 12 12
Drawing 1,180 - - - - 1,180 - - - 1,180 - 1,180 1,180
Driver's Education 875 - - - - 875 - - - 875 - 875 875
English 32 - - - - 32 - - - 32 - 32 32
Fiber Art 21 - - - - 21 - - - 21 - 21 21
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
The notes to the financial statements are an integral part of these financial statements.
(Continued)
20
EXHIBIT 5
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Cash on Accounts Prepaid Total Accounts Deferred Fund Liabilities and
Checking Hand Receivable Asset Inventory Assets Payable Revenue Restricted Assigned Unassigned Balances Fund Balances
Restricted Funds (Continued):
Department Accounts
Football 167$ -$ -$ -$ -$ 167$ -$ -$ -$ 167$ -$ 167$ 167$
History 1,113 - - - - 1,113 - - - 1,113 - 1,113 1,113
Library 3,175 - - - - 3,175 - - - 3,175 - 3,175 3,175
Math 20 - - - - 20 - - - 20 - 20 20
Monogramming Class 3,892 - - - - 3,892 - - - 3,892 - 3,892 3,892
Occupational Home Economics 7,446 - - - - 7,446 - - - 7,446 - 7,446 7,446
Orchestra 13 - - - - 13 - - - 13 - 13 13
Pottery 2,340 - - - - 2,340 - - - 2,340 - 2,340 2,340
ROTC 1,844 - - - - 1,844 - - - 1,844 - 1,844 1,844
Small Animal Care 479 - - - - 479 - - - 479 - 479 479
Social Studies 91 - - - - 91 - - - 91 - 91 91
Tennis 187 - - - - 187 - - - 187 - 187 187
Vocational 3 - - - - 3 - - - 3 - 3 3
Wellness 301 - - - - 301 - - - 301 - 301 301
Grant Accounts
Cora Cox Academy 1,604 - - - - 1,604 - - 1,604 - - 1,604 1,604
FEPEK Grants 2,341 - - - - 2,341 - - 2,341 - - 2,341 2,341
Math Grant 14 - - - - 14 - - 14 - - 14 14
PCF Grant - Algebra I 133 - - - - 133 - - 133 - - 133 133
PCF Grant - Algebra II 697 - - - - 697 - - 697 - - 697 697
PCF Grant - Geometry 655 - - - - 655 - - 655 - - 655 655
PCF Grant- Special Ed. Algebra 312 - - - - 312 - - 312 - - 312 312
PCFND- Tribe Games 2,000 - - - - 2,000 - - 2,000 - - 2,000 2,000
PCFND- Sensory/Mural 27 - - - - 27 - - 27 - - 27 27
PTA- Agriculture 12 - - - - 12 - - 12 - - 12 12
PTA - English 13 - - - - 13 - - 13 - - 13 13
PTA - Media Concepts 67 - - - - 67 - - 67 - - 67 67
PTA - Physics 505 - - - - 505 - - 505 - - 505 505
PTA - Reading 50 - - - - 50 - - 50 - - 50 50
PTA - Science Bio I 61 - - - - 61 - - 61 - - 61 61
PTA- Sparkle Squad 49 - - - - 49 - - 49 - - 49 49
Palmer 136 - - - - 136 - - 136 - - 136 136
Memorial Accounts
Blair Blankenship 1,508 - - - - 1,508 - - 1,508 - - 1,508 1,508
Citizenship Award 55 - - - - 55 - - 55 - - 55 55
Cecil & Peggy Peak Scholarship 21,300 - - - - 21,300 - - 21,300 - - 21,300 21,300
Class of '56 Scholarship 6,346 - - - - 6,346 - - 6,346 - - 6,346 6,346
Coke Scholarship Fund 4,202 - - - - 4,202 - - 4,202 - - 4,202 4,202
David Libby Scholarship 276 - - - - 276 - - 276 - - 276 276
Eddie Durham Memorial 247 - - - - 247 - - 247 - - 247 247
Haley Vincent Scholarship 600 - - - - 600 - - 600 - - 600 600
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
The notes to the financial statements are an integral part of these financial statements.
(Continued)
21
EXHIBIT 5
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Cash on Accounts Prepaid Total Accounts Deferred Fund Liabilities and
Checking Hand Receivable Asset Inventory Assets Payable Revenue Restricted Assigned Unassigned Balances Fund Balances
Restricted Funds (Continued):
Memorial Accounts
John Whited Scholarship 2,000$ -$ -$ -$ -$ 2,000$ -$ -$ 2,000$ -$ -$ 2,000$ 2,000$
Kuo Scholarship 7,419 - - - - 7,419 - - 7,419 - - 7,419 7,419
Marie H Hunter Scholarship 22,316 - - - - 22,316 - - 22,316 - - 22,316 22,316
Shaw-Reid Scholarship 57 - - - - 57 - - 57 - - 57 57
Shull Culinary Arts Scholarship 7,000 - - - - 7,000 - - 7,000 - - 7,000 7,000
Top Knott Cook Off 499 - - - - 499 - - 499 - - 499 499
Other Accounts
Activities Bus 8,538 - - - - 8,538 - - - 8,538 - 8,538 8,538
Adult Education 10,276 - - - - 10,276 - - - 10,276 - 10,276 10,276
Advanced Placement Exams 10,455 - - - - 10,455 - - - 10,455 - 10,455 10,455
Arrowhead 1,959 - - - - 1,959 - - - 1,959 - 1,959 1,959
Ecomarathon / Science Challenge 20 - - - - 20 - - - 20 - 20 20
Exams 3,971 - - - - 3,971 - - - 3,971 - 3,971 3,971
Summer School 1,678 - - - - 1,678 - - - 1,678 - 1,678 1,678
Forensics 3,127 - - - - 3,127 - - - 3,127 - 3,127 3,127
GED - General 1,159 - - - - 1,159 - - - 1,159 - 1,159 1,159
GED - Scholars 356 - - - - 356 - - - 356 - 356 356
Hospitality - Administration 4,905 - - - - 4,905 - - - 4,905 - 4,905 4,905
Hospitality - Staff 105 - - - - 105 - - - 105 - 105 105
Impressions 1,745 - - - - 1,745 - - - 1,745 - 1,745 1,745
Laundry (SAM) 288 - - - - 288 - - - 288 - 288 288
Life Skills 68 - - - - 68 - - - 68 - 68 68
Lost Textbooks 5,645 - - - - 5,645 - - - 5,645 - 5,645 5,645
Math Calculators 248 - - - - 248 - - - 248 - 248 248
Mock Trial 37 - - - - 37 - - - 37 - 37 37
Palmer - ECLC 232 - - - - 232 - - - 232 - 232 232
Parking Permits 8,493 - - - - 8,493 840 - - 7,653 - 7,653 8,493
Special Olympics 1,036 - - - - 1,036 - - - 1,036 - 1,036 1,036
Students In Need 286 - - - - 286 - - - 286 - 286 286
Van Replacement 38,529 - - - - 38,529 - - - 38,529 - 38,529 38,529
WCSK Radio 1,929 - - - - 1,929 - - - 1,929 - 1,929 1,929
Yearbook 46,423 - - - - 46,423 - - - 46,423 - 46,423 46,423
Total Restricted Funds 476,693 - - - 34,778 511,471 22,259 11,925 83,341 393,946 - 477,287 511,471
Total General and Restricted Funds 493,751$ 6,000$ 187$ -$ 34,778$ 534,716$ 22,259$ 11,925$ 83,341$ 393,946$ 23,245$ 500,532$ 534,716$
KINGSPORT TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
The notes to the financial statements are an integral part of these financial statements.
22
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 6
Fund Balances Transfers Change in Fund Balances
July 1, 2014 Revenues Expenditures In Out Inventory June 30, 2015
General Fund:
Administration -$ -$ 10,928$ -$ -$ -$ -$
Fines, Fees & Dues - 2,795 - - - - -
Fundraising - 6,354 - - - - -
Gifts, Bequests, & Donations - 999 - - - - -
Operation and Maintenance - - 461 - - - -
Total General Fund 24,486 10,148 11,389 - - - 23,245
Restricted Funds:
Athletic Accounts
Athletics 542 617,651 661,878 40,100 - - (3,585)
Boys' Basketball Summer Camp 3,887 8,817 12,511 - - - 193
Boys' Youth Basketball Summer Camp 74 3,420 2,712 - - - 782
Cheerleaders 7,765 27,868 30,026 - - - 5,607
Girls' Basketball Summer Camp 26 1,270 172 - - - 1,124
Indian Basketball League - 2,673 2,673 - - - -
Scoreboard Advertisements 3,687 29,610 13,700 - (5,000) - 14,597
Scoreboard Payment 11,791 - - - (6,000) - 5,791
Softball - DB / Eastman Classic 14,924 31,505 26,304 - (5,000) - 15,125
Softball Summer Camp - 1,980 1,875 - - - 105
Sparkle Squad - 970 723 - - - 247
Spirit Shakers 1,784 5,479 1,782 - - - 5,481
Teddy Gaines Appreciation 415 - - - - - 415
Tennis Court Maintenance - Comm. Projects 341 - - - - - 341
Wellmont / HVMC Sponsorship 14,436 - - - (1,100) - 13,336
Wrestling Summer Camp 1,157 2,250 1,900 - - - 1,507
Booster Club Accounts
Aqua Kicks 3,945 16,359 10,393 - (512) - 9,399
Baseball Boosters 6,907 20,207 20,629 - - - 6,485
Bowling Boosters 40 2,307 2,327 - - - 20
Dugout Club 3,881 6,744 8,618 - - - 2,007
Fin Club 4,939 17,047 19,076 - - - 2,910
Football Boosters 1,117 4,838 5,940 - - - 15
Girls' Basketball Boosters 1 12,208 10,319 - - - 1,890
Golf Boosters - Boys' 79 - 38 - - - 41
Golf Boosters - Girls' 1,152 1,568 1,476 - - - 1,244
Slam Dunk Club 2,221 16,952 18,711 - - - 462
Slam Dunk Club Scholarship 840 - - - - - 840
Soccer Boosters 3,236 8,400 8,275 - (1,144) - 2,217
Softball Boosters 16,206 21,638 15,375 - (1,500) - 20,969
Take Down Wrestling Club 13,108 16,703 12,586 - (3,916) - 13,309
Track Boosters 12 12,432 12,729 1,100 (787) - 28
Volleyball Boosters 4,345 35,306 31,280 - (1,241) - 7,130
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
(Continued)
23
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 6
Fund Balances Transfers Change in Fund Balances
July 1, 2014 Revenues Expenditures In Out Inventory June 30, 2015
Restricted Funds (Continued):
Club Accounts
Beta Club 588$ 4,394$ 4,050$ -$ -$ -$ 932$
DECA 304 1,980 2,284 - - - -
FBLA 297 3,020 3,386 746 - - 677
FCA 561 - - - - - 561
FFA 766 13,666 12,934 - - - 1,498
French Club 241 - - - - - 241
German Club 233 26,786 25,677 - - - 1,342
HOSA 202 2,632 1,949 - - - 885
JCL 1 1,092 1,088 - - - 5
Junior Statesman 511 1,230 1,737 - - - 4
Key Club 16 1,823 1,508 - - - 331
Mu Alpha Theta 3,910 3,396 2,650 - - - 4,656
National Honor Society 446 240 470 - - - 216
Natural Helpers 777 837 993 - - - 621
Northeast Tennessee Science Bowl 800 - - - - - 800
Pre-Engineering Club 2,966 22,025 19,163 - - - 5,828
Science Club 50 - - - - - 50
Science Olympiad 229 250 312 - - - 167
Senior Activity Club 13,536 16,239 20,101 - - - 9,674
Spanish Club 442 82 326 - - - 198
Student Council 2,119 5,420 5,467 - - - 2,072
Technology Club 1,102 1,193 1,268 - - - 1,027
Teenage Republicans 76 - - - - - 76
Video Club 634 969 1,111 - - - 492
World Language Club - 965 617 - - - 348
YDA 176 - - - - - 176
Department Accounts
Activities Office 60,797 37,464 29,576 - (15,000) (3,565) 50,120
Art 937 - 154 - - - 783
Auto Body 930 616 644 - - - 902
Auto Mechanics 264 415 480 - - - 199
BAM 800 - 64 - - - 736
Band 4,171 22,630 23,765 - - - 3,036
Central Office Fund 222 19 - - - - 241
Choral Music 46 33,710 33,371 - - - 385
Cosmetology 994 5,065 4,497 - - - 1,562
Criminal Justice 321 212 479 - - - 54
Drafting 12 - - - - - 12
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
(Continued)
24
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 6
Fund Balances Transfers Change in Fund Balances
July 1, 2014 Revenues Expenditures In Out Inventory June 30, 2015
Restricted Funds (Continued):
Department Accounts
Drawing 19$ 2,634$ 1,473$ -$ -$ -$ 1,180$
Driver's Education 700 875 700 - - - 875
English 32 - - - - - 32
Fiber Art 21 - - - - - 21
Football 250 - 83 - - - 167
History 1,113 - - - - - 1,113
Library 3,180 828 833 - - - 3,175
Math 20 - - - - - 20
Monogramming Class 1,914 4,780 2,802 - - - 3,892
Occupational Home Economics 9,129 5,307 6,990 - - - 7,446
Orchestra - 13 - - - - 13
Pottery 1,274 3,613 2,547 - - - 2,340
ROTC 1,787 25,756 25,699 - - - 1,844
Small Animal Care 73 1,657 1,251 - - - 479
Social Studies 223 - 132 - - - 91
Tennis 2 850 665 - - - 187
Vocational 434 - 431 - - - 3
Wellness 753 1,683 2,135 - - - 301
Grant Accounts
ACS Recycling 5 - - - (5) - -
Cora Cox Academy 268 1,655 319 - - - 1,604
FEPEK Grants 2,341 - - - - - 2,341
Math Grant - 700 686 - - - 14
PCF Grant I 93 - 93 - - - -
PCF Grant - Algebra I 104 - - 29 - - 133
PCF Grant - Algebra II 700 - 3 - - - 697
PCF Grant- GEO/ALB 1 29 - - - (29) - -
PCF Grant- Geometry 700 - 45 - - - 655
PCF Grant Special Ed. Algebra 312 - - - - - 312
PCFND- Tribe Games - 2,000 - - - - 2,000
PCFND- Playground - 9,500 9,500 - - - -
PCFND- Sensory/Mural - 2,500 2,473 - - - 27
PTA- Agriculture - 762 777 27 - - 12
PTA - BIO I/Horner 17 - - - (17) - -
PTA - Comp. Aided Drafting 3 - - - (3) - -
PTA - CTE 23 - - - (23) - -
PTA - English - 500 487 - - - 13
PTA - Library - 400 400 - - - -
PTA - Media Concepts 67 - - - - - 67
PTA - Physics 500 - - 5 - - 505
PTA - Reading 50 - - - - - 50
PTA - Science Bio I - 1,000 956 17 - - 61
PTA - Sparkle Squad - 1,000 951 - - - 49
Palmer 67 1,000 931 - - - 136
YSA - FFA 1 - - - (1) - -
Memorial Accounts
Blair Blankenship 2,008 - 500 - - - 1,508
Cecil & Peggy Peak Scholarship 23,300 - 2,000 - - - 21,300
Citizenship Award 55 - - - - - 55
Class of '56 Scholarship 9,346 - 3,000 - - - 6,346
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
(Continued)
25
KINGSPORT, TENNESSEE BOARD OF EDUCATION
DOBYNS-BENNETT HIGH SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 6
Fund Balances Transfers Change in Fund Balances
July 1, 2014 Revenues Expenditures In Out Inventory June 30, 2015
Restricted Funds (Continued):
Memorial Accounts
Coke Scholarship Fund 4,202$ -$ -$ -$ -$ -$ 4,202$
David Libby Scholarship 226 450 400 - - - 276
Eddie Durham Memorial 247 - - - - - 247
Haley Vincent Scholarship 300 300 - - - - 600
John Whited Scholarship - 6,000 4,000 - - - 2,000
Kuo Scholarship 7,419 - - - - - 7,419
Marie H Hunter Scholarship - 26,316 4,000 - - - 22,316
Shaw-Reid Scholarship 57 - - - - - 57
Shull Culinary Arts Scholarship 7,000 - - - - - 7,000
Top Knott Cook Off 1,249 - 750 - - - 499
Other Accounts
Activities Bus 48,950 2,628 43,040 - - - 8,538
Adult Education 14,192 - 3,916 - - - 10,276
Advanced Placement Exams 10,389 60,108 60,042 - - - 10,455
Arrowhead 1,063 4,300 3,404 - - - 1,959
Computer Technology 746 - - - (746) - -
Ecomarathon / Science Challenge 20 - - - - - 20
Exams 2,336 4,879 3,244 - - - 3,971
Summer School 2,891 - 1,213 - - - 1,678
Fine Arts Musical - 100 100 - - - -
Forensics 1,383 15,502 13,758 - - - 3,127
GED - General 1,215 - 56 - - - 1,159
GED - Scholars 356 - - - - - 356
Hospitality - Administration 4,685 5,425 5,205 - - - 4,905
Hospitality - Staff 79 1,346 1,320 - - - 105
Impressions 1,745 - - - - - 1,745
Laundry (SAM) 480 - 192 - - - 288
Life Skills 813 325 1,070 - - - 68
Lost Textbooks 9,410 1,232 4,997 - - - 5,645
Math Calculators 518 650 920 - - - 248
Mock Trial 37 - - - - - 37
New Horizons 94 - 94 - - - -
Palmer - ECLC 1,004 2,802 3,574 - - - 232
Parking Permits 8,002 9,340 9,689 - - - 7,653
Special Olympics 91 2,000 1,055 - - - 1,036
Students In Need 457 271 442 - - - 286
Van Replacement 21,040 18,489 1,000 - - - 38,529
WCSK Radio 1,638 2,483 2,192 - - - 1,929
Yearbook 37,668 34,248 25,493 - - - 46,423
Total Restricted Funds 476,250 1,402,779 1,398,177 42,024 (42,024) (3,565) 477,287
Total General and Restricted Funds 500,736$ 1,412,927$ 1,409,566$ 42,024$ (42,024)$ (3,565)$ 500,532$
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
26
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ROSS N. ROBINSON MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 7
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Due to Board Fund Liabilities and
Checking Receivable Assets Payable of Education Restricted Assigned Unassigned Balances Fund Balances
General Fund 13,677$ 96$ 13,773$ -$ -$ -$ -$ 13,773$ 13,773$ 13,773$
Restricted Funds:
Athletic Accounts
AAU Tournament 2,761 - 2,761 - - - 2,761 - 2,761 2,761
Athletics 21,586 - 21,586 486 - - 21,100 - 21,100 21,586
Class Accounts
Art 226 - 226 - - - 226 - 226 226
Band 7,588 - 7,588 - - - 7,588 - 7,588 7,588
Eighth Grade Trip 2,190 - 2,190 - - - 2,190 - 2,190 2,190
Life Skills 491 - 491 - - - 491 - 491 491
Music 2,632 - 2,632 - - - 2,632 - 2,632 2,632
Orchestra 415 - 415 - - - 415 - 415 415
Sam V Class 21 - 21 - - - 21 - 21 21
Seventh Grade Trip 205 - 205 - - - 205 - 205 205
Club Accounts
Craft Club 136 - 136 - - - 136 - 136 136
Drama Club 335 - 335 - - - 335 - 335 335
FCA 36 - 36 - - - 36 - 36 36
History Club 462 - 462 - - - 462 - 462 462
Natural Helpers 53 - 53 - - - 53 - 53 53
Robinson Rambler 40 - 40 - - - 40 - 40 40
Science Olympiad 197 - 197 - - - 197 - 197 197
Student Council 3 - 3 - - - 3 - 3 3
Technology Club 13 - 13 - - - 13 - 13 13
Other Accounts
Adopt-A-School 825 - 825 - - - 825 - 825 825
Eastman Mathletes 447 - 447 - - - 447 - 447 447
Faculty Vending 577 - 577 - - - 577 - 577 577
Library 1,880 - 1,880 - - - 1,880 - 1,880 1,880
Lost Textbooks 386 - 386 - - - 386 - 386 386
Putting Children First 1,007 - 1,007 - - - 1,007 - 1,007 1,007
Staff Hospitality 229 - 229 - - - 229 - 229 229
STEM EDA Technology Award 2,136 - 2,136 - - 2,136 - - 2,136 2,136
ETSU-STEM 54 - 54 - - 54 - - 54 54
Technology 8,300 - 8,300 - 8,300 - - - - 8,300
Yearbook 3,820 - 3,820 - - - 3,820 - 3,820 3,820
Total Restricted Funds 59,051 - 59,051 486 8,300 2,190 48,075 - 50,265 59,051
Total General and Restricted Funds 72,728$ 96$ 72,824$ 486$ 8,300$ 2,190$ 48,075$ 13,773$ 64,038$ 72,824$
The notes to the financial statements are an integral part of these financial statements.
27
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ROSS N. ROBINSON MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 8
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 846$ -$ -$ -$
Extended Field Trips - 27,839 27,839 - - -
Entertainment - - - - - -
Fines, Fees & Dues - - - - - -
Gifts, Bequests and Donations - 4,996 - - - -
Instruction - - 2,923 - - -
Local Field Trips - 9,393 8,530 - - -
Operations and Maintenance - - 858 - - -
Pictures - 2,902 - - - -
Resale - 190 - - - -
Total General Fund 9,449 45,320 40,996 - - 13,773
Restricted Funds:
Athletic Accounts
AAU Tournament 2,908 - 147 - - 2,761
Athletics 21,587 61,229 61,716 - - 21,100
Class Accounts
Art 226 - - - - 226
Band 6,923 1,115 450 - - 7,588
Eighth Grade Trip 35 96,451 94,296 - - 2,190
Life Skills 458 775 742 - - 491
Music 2,168 9,981 9,517 - - 2,632
Orchestra 577 496 658 - - 415
Sam V Class 33 277 289 - - 21
Seventh Grade Trip 154 1,109 1,058 - - 205
Club Accounts
Craft Club 250 - 114 - - 136
Drama Club - 863 528 - - 335
FCA 117 221 302 - - 36
History Club 500 - 38 - - 462
Natural Helpers 680 1,591 2,218 - - 53
Robinson Rambler - 1,105 1,065 - - 40
Science Olympiad 8 1,500 1,311 - - 197
Student Council 3 - - - - 3
Technology Club - 139 126 - - 13
Other Accounts
Adopt-A-School 865 - 40 - - 825
Cafeteria Charges - 176 176 - - -
Eastman Mathletes 29 700 282 - - 447
Faculty Vending 460 117 - - - 577
Library 2,107 7,008 7,235 - - 1,880
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
(Continued)
28
EXHIBIT 8
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
Restricted Funds (Continued):
Lost Textbooks 483$ 422$ 519$ -$ -$ 386$
Putting Children First 1,007 - - - - 1,007
Staff Hospitality 302 1,770 1,843 - - 229
STEM EDA Technology Award - 2,500 364 - - 2,136
ETSU-STEM 458 - 404 - - 54
Yearbook 3,872 4,560 4,612 - - 3,820
Total Restricted Funds 46,210 194,105 190,050 - - 50,265
Total General and Restricted Funds 55,659$ 239,425$ 231,046$ -$ -$ 64,038$
Other Financing Sources (Uses)
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ROSS N. ROBINSON MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
The notes to the financial statements are an integral part of these financial statements.29
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN SEVIER MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 9
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Other Total Accounts Fund Liabilities and
Checking Receivable Assets Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 13,334$ 25$ -$ 13,359$ -$ -$ -$ 13,359$ 13,359$ 13,359$
Restricted Funds:
Athletic Accounts
Athletics 7,287 - - 7,287 - - 7,287 - 7,287 7,287
Regional Basketball Tournament 575 - - 575 - - 575 - 575 575
Class Accounts
Art 531 - - 531 - - 531 - 531 531
Band 1,550 - - 1,550 - - 1,550 - 1,550 1,550
Chorus 1,193 - - 1,193 - - 1,193 - 1,193 1,193
Eighth Grade Trip 5,918 - - 5,918 - - 5,918 - 5,918 5,918
Seventh Grade Trip 189 - - 189 - - 189 - 189 189
Club Accounts
Mathletes 430 - - 430 - - 430 - 430 430
Natural Helpers 90 - - 90 - - 90 - 90 90
Odyssey of the Mind 1 - - 1 - - 1 - 1 1
Road Warriors/Thespians 6 - - 6 - - 6 - 6 6
Student Council 310 - - 310 - - 310 - 310 310
Other Accounts
Awards 10 - - 10 - - 10 - 10 10
Bob St. Clair Memorial 90 - - 90 - 90 - - 90 90
Boys' Ensemble 2 - - 2 - - 2 - 2 2
Bus Trip 537 - - 537 - - 537 - 537 537
Chasing Vemeer! Discover Math 61 - - 61 - - 61 - 61 61
Crime Scene Investigation 95 - - 95 - - 95 - 95 95
Eighth Graders as Authors 10 - - 10 - - 10 - 10 10
Faculty Drink Vending 469 - - 469 - - 469 - 469 469
Faculty Snack Vending 42 - - 42 - - 42 - 42 42
Feit Memorial 1 - - 1 - 1 - - 1 1
Great American Book Fair 5,553 - - 5,553 - - 5,553 - 5,553 5,553
Hands On Rocks and Minerals 12 - - 12 - - 12 - 12 12
Heather Bishop Fund 631 - - 631 - - 631 - 631 631
Homeless Education 300 - - 300 - - 300 - 300 300
Hospitality - Administration 1,106 - - 1,106 - - 1,106 - 1,106 1,106
Lab in a Bag 522 - - 522 - - 522 - 522 522
Let's Get Physical 3 - - 3 - - 3 - 3 3
Let's Read 6 - - 6 - - 6 - 6 6
Library 6,604 - - 6,604 - - 6,604 - 6,604 6,604
Math Counts 38 - - 38 - - 38 - 38 38
The notes to the financial statements are an integral part of these financial statements.
(Continued)
30
KINGSPORT TENNESSEE BOARD OF EDUCATION
JOHN SEVIER MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 9
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Other Total Accounts Fund Liabilities and
Checking Receivable Assets Assets Payable Restricted Assigned Unassigned Balances Fund Balances
Restricted Funds (Continued):
Mental Math Bee 2$ -$ -$ 2$ -$ -$ 2$ -$ 2$ 2$
Partners for Kids / Reading Incentive 3,351 - - 3,351 - - 3,351 - 3,351 3,351
Power of "J" 185 - - 185 - - 185 - 185 185
PTSA Mini Grants 2,511 - - 2,511 - 2,511 - - 2,511 2,511
Putting Children First 2 - - 2 - - 2 - 2 2
Recycle 300 - - 300 - - 300 - 300 300
Scholarships 1,034 - - 1,034 - - 1,034 - 1,034 1,034
Sequoyah Scribe 5,769 - - 5,769 - - 5,769 - 5,769 5,769
Sevier on Stage 1,014 - - 1,014 - - 1,014 - 1,014 1,014
Space: Final Frontier 128 - - 128 - - 128 - 128 128
Special Education in the Room 21 - - 21 - - 21 - 21 21
Special Education Vocational 137 - - 137 - - 137 - 137 137
Spring Fling 15,087 - - 15,087 - - 15,087 - 15,087 15,087
STAR 4 - - 4 - - 4 - 4 4
Starry, Starry Night 116 - - 116 - - 116 - 116 116
STEM EDA Technology Award 2,096 - - 2,096 - 2,096 - - 2,096 2,096
Strings 1,421 - - 1,421 - - 1,421 - 1,421 1,421
Cafeteria - - - - - - - - - -
Study Skills 324 - - 324 - - 324 - 324 324
Teacher of the Year Award 1,216 - - 1,216 - - 1,216 - 1,216 1,216
Science Department 1,242 - - 1,242 - - 1,242 - 1,242 1,242
University of Memphis Grant 2,394 - - 2,394 - 2,394 - - 2,394 2,394
Using Virtual Tours for Reading 39 - - 39 - - 39 - 39 39
Versatiles 10 - - 10 - - 10 - 10 10
Virtual Labs 100 - - 100 - - 100 - 100 100
Yearbook 6,436 - - 6,436 - - 6,436 - 6,436 6,436
Total Restricted Funds 79,111 - - 79,111 - 7,092 72,019 - 79,111 79,111
Total General and Restricted Funds 92,445$ 25$ -$ 92,470$ -$ 7,092$ 72,019$ 13,359$ 92,470$ 92,470$
The notes to the financial statements are an integral part of these financial statements.
31
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN SEVIER MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 10
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 2,250$ -$ -$ -$
Entertainment - - - - - -
Fines, Fees & Dues - 217 - - - -
Gifts, Bequests and Donations - 689 - - - -
Instruction - - 400 - - -
Pictures - 3,843 - - - -
Resale - 461 - - - -
Total General Fund 10,799 5,210 2,650 - - 13,359
Restricted Funds:
Athletic Accounts
Athletics 17,022 45,534 55,269 - - 7,287
Regional Basketball Tournament 575 - - - - 575
Class Accounts
Art 531 - - - - 531
Band 1,550 - - - - 1,550
Chorus 1,193 - - - - 1,193
Eighth Grade Trip 1,257 82,495 77,834 - - 5,918
Seventh Grade Trip 22 1,933 1,766 - - 189
Club Accounts
Mathletes 507 - 77 - - 430
Natural Helpers 4 500 414 - - 90
Odyssey of the Mind 1 - - - - 1
Road Warriors/Thespians 6 - - - - 6
Student Council 746 3,069 3,505 - - 310
Other Accounts
Awards 10 - - - - 10
Bob St. Clair Memorial 90 - - - - 90
Boys' Ensemble 2 - - - - 2
Bus Trip 642 1,798 1,903 - - 537
Feit Memorial 662 100 761 - - 1
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
(Continued)
32
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN SEVIER MIDDLE SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 10
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
Restricted Funds (Continued):
Chasing Vermeer! Discover Math 61$ -$ -$ -$ -$ 61$
Crime Scene Investigation 95 - - - - 95
Eighth Graders as Authors 10 - - - - 10
Faculty Drink Vending 469 - - - - 469
Faculty Snack Vending 42 - - - - 42
Great American Book Fair 4,100 5,419 3,966 - - 5,553
Hands On Rocks and Minerals 95 - 83 - - 12
Heather Bishop Fund 631 - - - - 631
Homeless Education 300 - - - - 300
Hospitality - Administration 498 608 - - - 1,106
Lab in a Bag 522 - - - - 522
Let's Get Physical 3 - - - - 3
Let's Read 6 - - - - 6
Library 6,954 1,818 2,168 - - 6,604
Math Counts 38 - - - - 38
Mental Math Bee 2 - - - - 2
Partners for Kids/Reading Incentive 3,351 - - - - 3,351
Power of "J" 185 - - - - 185
PTSA Mini Grants 2,511 - - - - 2,511
Putting Children First 2 - - - - 2
Recycle 300 - - - - 300
Scholarships 1,034 - - - - 1,034
Sequoyah Scribe 3,109 10,602 7,942 - - 5,769
Sevier on Stage 1,023 1,303 1,312 - - 1,014
Space: Final Frontier 128 - - - - 128
Special Education in the Room 21 - - - - 21
Special Education Vocational 137 - - - - 137
Spring Fling 15,087 - - - - 15,087
STAR 4 - - - - 4
Starry, Starry Night 116 - - - - 116
STEM EDA Technology Award - 2,500 404 - - 2,096
Strings 1,979 - 558 - - 1,421
Cafeteria 87 32 119 - - -
Study Skills 324 - - - - 324
Teacher of the Year Award 1,216 - - - - 1,216
Science Department 1,242 - - - - 1,242
University of Memphis Grant 2,394 - - - - 2,394
Using Virtual Tours for Reading 39 - - - - 39
Versatiles 10 - - - - 10
Virtual Labs 100 - - - - 100
Yearbook 6,862 8,616 9,042 - - 6,436
Total Restricted Funds 79,907 166,327 167,123 - - 79,111
Total General and Restricted Funds 90,706$ 171,537$ 169,773$ -$ -$ 92,470$
Other Financing Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
33
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN ADAMS ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 11
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 10,106$ -$ 10,106$ -$ -$ -$ 10,106$ 10,106$ 10,106$
Restricted Funds:
Grant Account
ETSU 46 - 46 - 46 - - 46 46
Club Accounts
Running Club 3 - 3 - - 3 - 3 3
Other Accounts
Book Room 642 - 642 - - 642 - 642 642
Art 337 - 337 - - 337 - 337 337
Cafateria Charges 10 - 10 - - 10 - 10 10
Hospitality 432 - 432 - - 432 - 432 432
Library 2,621 - 2,621 - - 2,621 - 2,621 2,621
Total Restricted Funds 4,091 - 4,091 - 46 4,045 - 4,091 4,091
Total General and Restricted Funds 14,197$ -$ 14,197$ -$ 46$ 4,045$ 10,106$ 14,197$ 14,197$
The notes to the financial statements are an integral part of these financial statements.
34
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN ADAMS ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 12
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 2,135$ -$ -$ -$
Fines, Fees & Dues - 168 - - - -
Extended Contracted Services - - - - - -
Gifts, Bequests and Donations - 3,926 - - - -
Instruction - - 1,780 - - -
Local Field Trips - 7,761 7,071 - - -
Pictures - 1,369 - - - -
Resale - 1,483 1,479 - - -
Yearbook - 6,447 6,447 - - -
Total General Fund 7,864 21,154 18,912 - - 10,106
Restricted Funds:
Grant Account
ETSU 1,000 - 954 - - 46
Club Account
Running Club 3 - - - - 3
Other Accounts
Book Room 642 - - - - 642
Art 890 690 1,243 - - 337
Cafateria Charges - 10 - - - 10
Hospitality 360 535 463 - - 432
Memorials - 1,019 1,019 - - -
Library 2,875 5,322 5,576 - - 2,621
Total Restricted Funds 5,770 7,576 9,255 - - 4,091
Total General and Restricted Funds 13,634$ 28,730$ 28,167$ -$ -$ 14,197$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
35
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ANDREW JACKSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 13
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 10,464$ -$ 10,464$ -$ -$ -$ 10,464$ 10,464$ 10,464$
Restricted Funds:
Class Account
Fifth Grade Donations 580 - 580 - - 580 - 580 580
Art 70 - 70 - - 70 - 70 70
Chorus 51 - 51 - - 51 - 51 51
Other Accounts
ASME 1,200 - 1,200 - 1,200 - - 1,200 1,200
Community Garden 79 - 79 - - 79 - 79 79
Eastman PCF Grant III 12 - 12 - 12 - - 12 12
Eastman PCF Grant IV 1 - 1 - 1 - - 1 1
Faculty Vending 305 - 305 - - 305 - 305 305
Food City Donation 499 - 499 - - 499 - 499 499
Incentive Program 184 - 184 - - 184 - 184 184
JP Morgan PCF Grant I 1 - 1 - 1 - - 1 1
Library Boosters 2,827 - 2,827 - - 2,827 - 2,827 2,827
Mathletes 1,402 - 1,402 - 1,402 - - 1,402 1,402
Summer Program 100 - 100 - 100 - - 100 100
Total Restricted Funds 7,311 - 7,311 - 2,716 4,595 - 7,311 7,311
Total General and Restricted Funds 17,775$ -$ 17,775$ -$ 2,716$ 4,595$ 10,464$ 17,775$ 17,775$
The notes to the financial statements are an integral part of these financial statements.
36
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ANDREW JACKSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 14
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 300$ -$ -$ -$
Fines, Fees & Dues - 538 - - - -
Gifts, Bequests and Donations - 651 - - - -
Instruction - - - - - -
Local Field Trips - 2,370 3,136 - - -
Pictures - 1,009 - - - -
Resale - 950 926 - - -
Yearbook - 3,879 3,528 - - -
Total General Fund 8,957 9,397 7,890 - - 10,464
Restricted Funds:
Class Account
Fifth Grade Donations 417 1,966 1,803 - - 580
Art 20 50 - - - 70
Chorus 51 - - - - 51
Other Accounts
ASME - 1,200 - - - 1,200
Community Garden 79 - - - - 79
Eastman PCF Grant II 320 - 320 - - -
Eastman PCF Grant III 12 - - - - 12
Eastman PCF Grant IV 1 - - - - 1
Faculty Vending 624 81 400 - - 305
Food City Donation 107 392 - - - 499
Incentive Program 184 - - - - 184
JP Morgan PCF Grant I 1 - - - - 1
JP Morgan PCF Grant II 3 - 3 - - -
Library Boosters 1,526 5,596 4,295 - - 2,827
Mathletes 929 1,400 927 - - 1,402
Summer Program - 100 - - - 100
University of Memphis 500 - 500 - - -
Walk-A-Thon 6,797 - 6,797 - - -
Total Restricted Funds 11,571 10,785 15,045 - - 7,311
Total General and Restricted Funds 20,528$ 20,182$ 22,935$ -$ -$ 17,775$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
37
KINGSPORT, TENNESSEE BOARD OF EDUCATION
THOMAS JEFFERSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 15
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 12,625$ -$ 12,625$ -$ -$ -$ 12,625$ 12,625$ 12,625$
Restricted Funds:
Other Accounts
ACS 500 - 500 - 500 - - 500 500
Exxon Mobil Education 500 - 500 - - 500 - 500 500
Faculty Vending 2 - 2 - - 2 - 2 2
Parent Volunteer 44 - 44 - - 44 - 44 44
Wish On A Well 1,205 - 1,205 - - 1,205 - 1,205 1,205
PTO Field Trip Scholarships 224 - 224 - - 224 - 224 224
Total Restricted Funds 2,475 - 2,475 - 500 1,975 - 2,475 2,475
Total General and Restricted Funds 15,100$ -$ 15,100$ -$ 500$ 1,975$ 12,625$ 15,100$ 15,100$
The notes to the financial statements are an integral part of these financial statements.
38
KINGSPORT, TENNESSEE BOARD OF EDUCATION
THOMAS JEFFERSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 16
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ -$ -$ -$ -$
Extended Field Trips - 6,900 7,062 - - -
Fines, Fees & Dues - 322 - - - -
Gifts, Bequests and Donations - 2,959 - - - -
Instruction - - 295 - - -
Local Field Trips - 4,636 4,329 - - -
Pictures - 3,067 - - - -
Yearbook - 5,634 5,576 - - -
Total General Fund 6,369 23,518 17,262 - - 12,625
Restricted Funds:
Other Accounts
ACS - 500 - - - 500
Exxon Mobil Education - 500 - - - 500
Eastman Grant 348 - 348 - - -
Faculty Vending 199 273 470 - - 2
Parent Volunteer 1,000 - 956 - - 44
Wish On A Well 698 507 - - - 1,205
PTO Field Trip Scholarships 114 200 90 - - 224
Total Restricted Funds 2,359 1,980 1,864 - - 2,475
Total General and Restricted Funds 8,728$ 25,498$ 19,126$ -$ -$ 15,100$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
39
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ANDREW JOHNSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 17
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 12,099$ -$ 12,099$ -$ -$ -$ 12,099$ 12,099$ 12,099$
Restricted Funds:
Other Accounts
American Chemical Society 24 - 24 - - 24 - 24 24
Faculty Vending 274 - 274 - - 274 - 274 274
General Education Instruction 5,161 - 5,161 - - 5,161 - 5,161 5,161
Good Sports Always Recycle 57 - 57 - - 57 - 57 57
Library Boosters 756 - 756 - - 756 - 756 756
PCF Grants Math 2 - 2 - 2 - - 2 2
PCFND Sensory Room 53 - 53 - - 53 - 53 53
Playground 1,467 - 1,467 - - 1,467 - 1,467 1,467
Road Race 83 - 83 - - 83 - 83 83
100 Mile Club 43 - 43 - - 43 - 43 43
Destination Imagination 210 - 210 - - 210 - 210 210
Field Trip Scholarship 391 - 391 - - 391 - 391 391
Rose Center 54 - 54 - - 54 - 54 54
Total Restricted Funds 8,575 - 8,575 - 2 8,573 - 8,575 8,575
Total General and Restricted Funds 20,674$ -$ 20,674$ -$ 2$ 8,573$ 12,099$ 20,674$ 20,674$
The notes to the financial statements are an integral part of these financial statements.
40
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 18
Fund Balance Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 3,230$ -$ -$ -$
Gifts, Bequests, & Donations - 4,345 - - - -
Instruction - - 6,911 - - -
Local Field Trips - 9,235 9,155 - - -
Pictures - 4,405 - - - -
Total General Fund 13,410 17,985 19,296 - - 12,099
Restricted Funds:
Other Accounts
American Chemical Society - 24 - - - 24
Cafeteria Charges - 22 22 - - -
Dolla General Literacy - 2,000 2,000 - - -
Faculty Vending 83 191 - - - 274
General Education Instruction 5,161 - - - - 5,161
Good Sports Always Recycle - 1,000 943 - - 57
Library Boosters 628 1,594 1,466 - - 756
Mathletes - - - - - -
PCF Grants Math 2 - - - - 2
PCFND Sensory Room - 7,500 7,447 - - 53
Playground 2,467 - 1,000 - - 1,467
Road Race 83 - - - - 83
Rose Center 54 - - - - 54
100 Mile Club 393 - 350 - - 43
Destination Imagination 585 - 375 - - 210
Field Trip Scholarships 433 746 788 - - 391
Total Restricted Funds 9,889 13,077 14,391 - - 8,575
Total General and Restricted Funds 23,299$ 31,062$ 33,687$ -$ -$ 20,674$
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ANDREW JOHNSON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
Other Funding Sources (Uses)
Transfers
The notes to the financial statements are an integral part of these financial statements.
41
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN F. KENNEDY ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 19
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 10,413$ -$ 10,413$ -$ -$ -$ 10,413$ 10,413$ 10,413$
Restricted Funds:
Other Accounts
Birthday Books 10 - 10 - - 10 - 10 10
Chorus - Fundraiser 141 - 141 - - 141 - 141 141
Clothes Fund 52 - 52 - - 52 - 52 52
Faculty Vending 205 - 205 - - 205 - 205 205
PTA Donations 468 - 468 - - 468 - 468 468
Reading Support 1,702 - 1,702 - - 1,702 - 1,702 1,702
Total Restricted Funds 2,578 - 2,578 - - 2,578 - 2,578 2,578
Total General and Restricted Funds 12,991$ -$ 12,991$ -$ -$ 2,578$ 10,413$ 12,991$ 12,991$
The notes to the financial statements are an integral part of these financial statements.
42
KINGSPORT, TENNESSEE BOARD OF EDUCATION
JOHN F. KENNEDY ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 20
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administrative -$ -$ 823$ -$ -$ -$
Fines, Fees & Dues - 222 - - - -
Gifts, Bequests & Donations - 3,180 - - - -
Instruction - - 2,376 - - -
Local Field Trips - 8,508 8,578 - - -
Music Items - 176 192 - - -
Pictures - 686 - - - -
Yearbook - 2,070 2,293 - - -
Total General Fund 9,833 14,842 14,262 - - 10,413
Restricted Funds:
Other Accounts
Birthday Books 132 866 988 - - 10
Chorus - Fundraiser 141 - - - - 141
Clothes Fund 52 - - - - 52
Faculty Vending 464 1,107 1,366 - - 205
Mathletes - 1,400 1,400 - - -
PTA Donations 468 - - - - 468
Reading Support 1,201 1,200 699 - - 1,702
Total Restricted Funds 2,458 4,573 4,453 - - 2,578
Total General and Restricted Funds 12,291$ 19,415$ 18,715$ -$ -$ 12,991$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
43
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ABRAHAM LINCOLN ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 21
ASSETS
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 5,812$ -$ 5,812$ -$ -$ -$ 5,812$ 5,812$ 5,812$
Restricted Funds:
Other Accounts
Chorus Gifts & Donations 268 - 268 - - 268 - 268 268
Eastman Grant - Science 18 - 18 - 18 - - 18 18
Faculty Vending 158 - 158 - - 158 - 158 158
Field Trip Scholarships 937 - 937 - - 937 - 937 937
Library 4,644 - 4,644 - - 4,644 - 4,644 4,644
Lincoln PTO Donations 4,881 - 4,881 - - 4,881 - 4,881 4,881
Mathletes 736 - 736 - - 736 - 736 736
Smartboards 363 - 363 - - 363 - 363 363
Spelling Bee 62 - 62 - - 62 - 62 62
Voridian Shoes & Socks 23 - 23 - - 23 - 23 23
Total Restricted Funds 12,090 - 12,090 - 18 12,072 - 12,090 12,090
Total General and Restricted Funds 17,902$ -$ 17,902$ -$ 18$ 12,072$ 5,812$ 17,902$ 17,902$
LIABILITIES AND FUND BALANCES
The notes to the financial statements are an integral part of these financial statements.
44
KINGSPORT, TENNESSEE BOARD OF EDUCATION
ABRAHAM LINCOLN ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 22
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 2,528$ -$ -$ -$
Fines, Fees & Dues - 40 - - - -
Gifts, Bequests, & Donations - 3,039 - - - -
Local Field Trips - 2,185 2,816 - - -
Pictures - 1,182 - - - -
Yearbooks - 4,266 4,178 - - -
Total General Fund 4,622 10,712 9,522 - - 5,812
Other Accounts
Cafeteria Charges - 2 2 - - -
Chorus Gifts & Donations 268 681 681 - - 268
Eastman Grant - Science 18 - - - - 18
Faculty Vending 39 119 - - - 158
Field Trip Scholarships 1,220 20 303 - - 937
Library 5,314 9,538 10,208 - - 4,644
Lincoln PTO Donation - 4,881 - - - 4,881
Mathletes 736 - - - - 736
Smartboards 363 - - - - 363
Spelling Bee 62 - - - - 62
Voridian Shoes and Socks 23 - - - - 23
Total Restricted Funds 8,043 15,241 11,194 - - 12,090
Total General and Restricted Funds 12,665$ 25,953$ 20,716$ -$ -$ 17,902$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
45
KINGSPORT, TENNESSEE BOARD OF EDUCATION
THEODORE ROOSEVELT ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 23
ASSETS LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 3,742$ 15$ 3,757$ -$ -$ -$ 3,757$ 3,757$ 3,757$
Restricted Funds:
Other Accounts
Birthday Book Club 9 - 9 - - 9 - 9 9
Vending 805 - 805 - - 805 - 805 805
Hospitality 690 - 690 - - 690 - 690 690
Library 2,858 - 2,858 - - 2,858 - 2,858 2,858
Labels for Education 1,000 - 1,000 - - 1,000 - 1,000 1,000
Mathletes 814 - 814 - - 814 - 814 814
Restricted Donations - Book Room 1,500 - 1,500 - 1,500 - - 1,500 1,500
Roosevelt Runners 3 - 3 - - 3 - 3 3
Science Grant 1 - 1 - - 1 - 1 1
Target 84 - 84 - - 84 - 84 84
Tcher Fundraising/Stdnt Spprt 2,519 - 2,519 - - 2,519 - 2,519 2,519
PTA/Scholarships 375 - 375 - - 375 - 375 375
Yearbook 743 - 743 - - 743 - 743 743
Total Restricted Funds 11,401$ -$ 11,401$ -$ 1,500$ 9,901$ -$ 11,401$ 11,401$
Total General and Restricted Funds 15,143$ 15$ 15,158$ -$ 1,500$ 9,901$ 3,757$ 15,158$ 15,158$
The notes to the financial statements are an integral part of these financial statements.
46
KINGSPORT, TENNESSEE BOARD OF EDUCATION
THEODORE ROOSEVELT ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 24
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 533$ -$ -$ -$
Gifts, Bequests, & Donations - 1,488 - - - -
Instruction Supplies & Materials - - 348 - - -
Local Field Trips - 5,367 5,467 - - -
Resale - 20 1,176 - - -
Total General Fund 4,406 6,875 7,524 - - 3,757
Restricted Fund:
Other Accounts
Birthday Book Club 9 - - - - 9
Chorus - 68 68 - - -
Vending - 1,700 895 - - 805
Hospitality 665 1,010 985 - - 690
Library 2,014 7,111 6,267 - - 2,858
Labels for Education - 1,000 - - - 1,000
Mathletes 155 700 41 - - 814
Restricted Donations - Book Room 2,443 1,500 2,443 - - 1,500
Roosevelt Runners 45 - 42 - - 3
Science Grant 737 - 736 - - 1
Target 465 - 381 - - 84
Tcher Fundraising/Stdnt Spprt - 3,869 1,350 - - 2,519
PTA/Scholarships 144 643 412 - - 375
Yearbook 637 2,875 2,769 - - 743
Total Restricted Funds 7,314 20,476 16,389 - - 11,401
Total General and Restricted Funds 11,720$ 27,351$ 23,913$ -$ -$ 15,158$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
47
KINGSPORT, TENNESSEE BOARD OF EDUCATION
GEORGE WASHINGTON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
BALANCE SHEET - REGULATORY BASIS
June 30, 2015
EXHIBIT 25
LIABILITIES AND FUND BALANCES
Cash in Total
Bank Accounts Total Accounts Fund Liabilities and
Checking Receivable Assets Payable Restricted Assigned Unassigned Balances Fund Balances
General Fund 15,509$ -$ 15,509$ -$ -$ -$ 15,509$ 15,509$ 15,509$
Restricted Funds:
Class Account
Art/Technology 3,008 - 3,008 - - 3,008 - 3,008 3,008
Other Accounts
Academic Resource Center 796 - 796 - - 796 - 796 796
Art Show 10 - 10 - - 10 - 10 10
CSX 509 - 509 - 509 - - 509 509
Barbara Simpson Memorial Fund 60 - 60 - 60 - - 60 60
ECLC 335 - 335 - - 335 - 335 335
FEPEK Grants 34 - 34 - 34 - - 34 34
Hospitality - Staff 142 - 142 - - 142 - 142 142
If I Had a Hammer 1,175 - 1,175 - - 1,175 - 1,175 1,175
Moving with Science 34 - 34 - - 34 - 34 34
Sam III Recycling 39 - 39 - - 39 - 39 39
Good Sports Always Recycle 559 - 559 - 559 - - 559 559
School Age Child Care (SACC) 788 - 788 - - 788 - 788 788
Science Academy 49 - 49 - - 49 - 49 49
Science Grant - Putting Children First 5 - 5 - 5 - - 5 5
Volunteer Parenting Award 482 - 482 - - 482 - 482 482
Total Restricted Funds 8,025 - 8,025 - 1,167 6,858 - 8,025 8,025
Total General and Restricted Funds 23,534$ -$ 23,534$ -$ 1,167$ 6,858$ 15,509$ 23,534$ 23,534$
ASSETS
The notes to the financial statements are an integral part of these financial statements.
48
KINGSPORT, TENNESSEE BOARD OF EDUCATION
GEORGE WASHINGTON ELEMENTARY SCHOOL - INTERNAL SCHOOL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - REGULATORY BASIS
For the Year Ended June 30, 2015
EXHIBIT 26
Fund Balances Transfers Fund Balances
July 1, 2014 Revenues Expenditures In Out June 30, 2015
General Fund:
Administration -$ -$ 2,188$ -$ -$ -$
Extended Field Trips - - - - - -
Fines, Fees, & Dues - 369 - - - -
Gifts, Bequests, & Donations - 20,177 - - - -
Instruction - - 30,159 - - -
Annuals - - - - - -
Local Field Trips - 13,678 12,841 - - -
Outdoor Trail Mountain School - 11,021 11,191 - - -
Pictures - 3,205 - - - -
Resale - 560 560 - - -
Refunds and Reimbursements - - 34 - - -
Special Classes - 890 - - - -
Yearbook - 6,280 6,285 - - -
Total General Fund 22,587 56,180 63,258 - - 15,509
Restricted Funds:
Class Accounts
Art/Technology 3,008 - - - - 3,008
Other Accounts
Academic Resource Center 848 - 52 - - 796
Art Show 10 - - - - 10
Cafeteria Charges 10 7 17 - - -
CSX - 509 - - - 509
Barbara Simpson Memorial Fund 60 - - - - 60
ECLC 110 265 40 - - 335
FEPEK Grants 34 - - - - 34
Hospitality - Staff 167 35 60 - - 142
If I Had a Hammer 1,175 - - - - 1,175
Moving with Science 34 - - - - 34
Sam III Recycling 39 - - - - 39
Good Sports Always Recycle 559 - - - - 559
School Age Child Care (SACC) 776 2,173 2,161 - - 788
Science Academy 129 - 80 - - 49
Science Grant - Putting Children First 5 - - - - 5
Volunteer Parenting Award 612 - 130 - - 482
Total Restricted Funds 7,576 2,989 2,540 - - 8,025
Total General and Restricted Funds 30,163$ 59,169$ 65,798$ -$ -$ 23,534$
Other Funding Sources (Uses)
The notes to the financial statements are an integral part of these financial statements.
49
OTHER INFORMATION
Dobyns-Bennett High School
Transfer To Transfer From
Activities ACS Aqua Computer PCF Grant - PTA-BIO I/ PTA- Comp.Office Recycling Grant Kicks Technology GEO/ALB I Horner Aided Drafting PTA- CTE Scoreboard Ads
Athletics 15,000$ -$ 512$ -$ -$ -$ -$ -$ 5,000$
FBLA - - - 746 - - - - -
PCF Grant Algebra I - - - - 29 - - - -
PTA Agriculture - - - - - - 3 23 -
PTA Physics - 5 - - - - - - -
PTA Science/Bio I - - - - - 17 - - - Track Boosters - - - - - - - - -
Total 15,000$ 5$ 512$ 746$ 29$ 17$ 3$ 23$ 5,000$
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
SCHEDULE OF INTERFUND AND INTERACCOUNT TRANSFERS
BY SCHOOL
For the Year Ended June 30, 2015
51
(Continued)
Dobyns-Bennett High School
Transfer To Transfer From
Softball- DB Take Down Wellmont/
Scoreboard Soccer Softball Eastman Wrestling Track Volleyball HVMCPayments Boosters Boosters Classic Club Boosters Boosters Sponsor YSA-FFA Total
Athletics 6,000$ 1,144$ 1,500$ 5,000$ 3,916$ 787$ 1,241$ -$ -$ 40,100$
FBLA - - - - - - - - - 746
PCF Grant Algebra I - - - - - - - - - 29
PTA Agriculture - - - - - - - - 1 27
PTA Physics - - - - - - - - - 5
PTA Science/Bio I - - - - - - - - - 17 Track Boosters - - - - - - - 1,100 - 1,100
6,000$ 1,144$ 1,500$ 5,000$ 3,916$ 787$ 1,241$ 1,100$ 1$ 42,024$
INTERNAL SCHOOL FUNDS
SCHEDULE OF INTERFUND AND INTERACCOUNT TRANSFERS
BY SCHOOL
For the Year Ended June 30, 2015
52
(Continued)
KINGSPORT, TENNESSEE BOARD OF EDUCATION
Company: Travelers Insurance Company
Type of Coverage: Government Crime
Amount: $500,000
Period Covered: 07/01/2014 through 07/01/2015
Positions Covered: All School Employees
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
SCHEDULE OF FIDELITY BOND COVERAGE (UNAUDITED)
For the Year Ended June 30, 2015
53
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
SCHEDULE OF SALARY SUPPLEMENTS (UNAUDITED)
For the Year Ended June 30, 2015
Board Proper
School Amount Source Approved Withholding
DOBYNS-BENNETT HIGH SCHOOL
Tim Baker 110$ Basketball Game Worker Yes Yes
Wendy Baker 300 Volleyball Director Yes Yes
Ross Bader 2,500 Design of Drill for Band Yes Yes
Jimmy Burleson 1,250 Basketball Game Worker Yes Yes
Rodney Burton 500 Baseball Assistant Coach Yes Yes
Jon Cleary 1,955 PA/Scoreboard/Game Worker Yes Yes
Jeremy Clonce 400 Track Camp Yes Yes
Christie Culbertson 1,000 Cheer Coaching Yes Yes
Patricia Dygert 1,000 Volleyball Coach Yes Yes
Lora Fowler 8,500 Swim Instructor Yes Yes
Bill Francis 355 Driver/Cheerleading Yes Yes
Josh French 100 Softball Umpire Yes Yes
Vanessa Gilley 450 Softball Game Worker Yes Yes
Debbie Hash 1,134 Concession Worker Yes Yes
Caitlyn Horn 475 Softball Site Director Yes Yes
Andrew Hubbard 300 Softball Summer Camp Yes Yes
Denise Lane 2,255 Game Worker Yes Yes
Mike Larkin 200 Softball Site Director Yes Yes
Nicholas Lingerfelt 1,080 Baseball Assistant Coach Yes Yes
Nathan Love 2,100 Swim Instructor Yes Yes
Buzzy Mann 60 Driver/Softball Yes Yes
Joe McMakin 650 Game Worker Yes Yes
Michelle McMillan 100 Softball Summer Camp Yes Yes
Kristy Miller 75 PSAT Fee Collection Yes Yes
Charlie Morgan 3,000 Basketball Camp/Driver-Cheerleading Yes Yes
Doug Releford 1,190 Basketball Game Worker Yes Yes
Julie Rich 576 Swim Consultant Yes Yes
Patty Rotenberry 1,307 Concession Worker Yes Yes
Blake Rutherford 1,405 Soccer Camp Yes Yes
Billy Salyers 1,550 Track Camp Assistant Coach Yes Yes
Michael Sampson 285 Game Worker Yes Yes
Dana Sanders 30 Game Worker Yes Yes
Audra Stanley 375 Softball Game Worker Yes Yes
Lindsay Statum 250 Volleyball Co-Director Yes Yes
Jason Sweeney 200 Softball Summer Camp Yes Yes
Mike Swiney 200 Softball Summer Camp Yes Yes
Brian Tate 1,200 Softball Director Yes Yes
Kevin Trivette 1,200 Athletic Trainer; Softball Director Yes Yes
Sierra Waters 1,520 Swim Coach Yes Yes
Tony Weaver 900 Soccer Summer Camp Yes Yes
Denise Wright 75 Game Worker Yes YesDanielle Zimmerman 200 Softball Summer Camp Yes Yes
Total 42,312
ROSS N. ROBINSON MIDDLE SCHOOL
Chad Austin 45 Referee Yes Yes
Kim Bailey 31 Ticket Sales Yes Yes
Heather Bishop 88 Ticket Sales Yes Yes
Kathy Burton 94 Ticket Sales Yes Yes
Penny Cameron 63 Ticket Sales Yes Yes
Susan Chadwell 525 Scorekeeper Yes Yes
Byan Dean 350 Scorekeeper Yes Yes
Debbie Hash 63 Ticket Sales Yes Yes
Marday Johnson 38 Ticket Sales Yes Yes
Cristy Lewis 38 Ticket Sales Yes Yes
Buzzy Mann 150 Softball Team Driver Yes Yes
Becky McLain 113 Ticket Sales Yes Yes
Kathy Moffitt 69 Ticket Sales Yes Yes
Debra Pearch 100 Ticket Sales Yes Yes
Erin Prindle 31 Ticket Sales Yes Yes
Lance Sawyer 155 Referee Yes Yes
Julius Stokely 413 Scorekeeper Yes Yes
Jennifer Sturgill 406 Ticket Sales Yes Yes
Danielle Suits 63 Ticket Sales Yes Yes
Ryan Wagner 65 Ticket Sales Yes Yes
Ross Walker 69 Ticket Sales Yes YesJohn Wolfe 50 Scorekeeper Yes Yes
Total 3,019
54
(Continued)
KINGSPORT, TENNESSEE BOARD OF EDUCATION
INTERNAL SCHOOL FUNDS
SCHEDULE OF SALARY SUPPLEMENTS (UNAUDITED)
For the Year Ended June 30, 2014
Board Proper
School Amount Source Approved Withholding
JOHN SEVIER MIDDLE SCHOOL
Chad Austin 45$ Referee Yes Yes
Tim Baker 30 Clock Keeper Yes Yes
Pandy Elkins 825 Press Box/Scoreboard Yes Yes
Minta Fannon 25 Ticket Sales Yes Yes
Aaron Gourley 450 Press Box/Announcer Yes Yes
LeAnn Franklin 50 Supervision Yes Yes
Debbie Hash 1,363 Concession Worker Yes Yes
Melanie Jones 25 Supervision Yes Yes
David Koth 100 Supervision Yes Yes
Elizabeth McQueen 575 Clock Keeper Yes Yes
Lance Sawyer 90 Referee Yes Yes
Brian Trent 550 Supervision Yes YesRyan Wagner 90 Referee Yes Yes
Total 4,218
SCHOOL SYSTEM WIDE
City of Kingsport Police Department
John Blessing 749 Athletic Security Yes Yes
Seth Brumfield 114 Athletic Security Yes Yes
Jordan Caldwell 131 Athletic Security Yes Yes
Ralph Cline 182 Athletic Security Yes Yes
Brad Conkin 331 Athletic Security Yes Yes
Marion Cornett 1,412 Athletic Security Yes Yes
Joe Earles 1,160 Athletic Security Yes Yes
Aaron Grimes 422 Athletic Security Yes Yes
Todd Harrison 991 Athletic Security Yes Yes
Justin Humphries 811 Athletic Security Yes Yes
Frank Light 1,022 Athletic Security Yes Yes
Rich Marshall 430 Athletic Security Yes Yes
Darrell McCoy 2,487 Athletic Security Yes Yes
Thomas Patton 1,003 Athletic Security Yes YesJustin Quillin 476 Athletic Security Yes Yes
Total 11,721
Grand Total 61,270$
Note: Although supplements were not individually approved by the Board of Education, all activities were approved.
55
COMPLIANCE AND INTERNAL CONTROL SECTION
Your Success is Our Focus 1969 Lee Highway • P.O. Box 16999 • Bristol, VA 24209-6999 • 276-466-5248 • Fax: 276-466-9241 • www.BEcpas.com
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
President and Members of the Kingsport, Tennessee Board of EducationKingsport, TN 37660
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standardsissued by the Comptroller General of the United States, the accompanying combined financial statements – regulatory basis of the City of Kingsport, Tennessee Internal School Funds, as of and for the year ended June 30, 2015, and the related notes to the financial statements, and the individual fund financial statements – regulatory basis presented as supplementary information, and have issued our report thereon dated September 21, 2015. Our report on the financial statements disclosed that, as described in Note 1 to the financial statements, the financial statements are prepared in conformity with the accounting practices prescribed by the Tennessee Internal School Uniform Accounting Policy Manual, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City of Kingsport, Tennessee Internal School Funds’ internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City of Kingsport, Tennessee Internal School Funds’ internal control. Accordingly, we do not express an opinion on the effectiveness of the City of Kingsport, Tennessee Internal School Funds’ internal control.
Our consideration of internal control was for the limited purpose described in the preceding paragraphand was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as described in the accompanying schedule of findings we identified certain deficiencies in internal control that we consider to be material weaknesses and significant deficiencies.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis.
We consider the deficiency described in the accompanying schedule of findings as item 15-01 to be a material weakness.
Your Success is Our Focus 1969 Lee Highway • P.O. Box 16999 • Bristol, VA 24209-6999 • 276-466-5248 • Fax: 276-466-9241 • www.BEcpas.com
A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
We consider the deficiencies described in the accompany schedule of findings as items 15-02, 15-03, 10-06, 10-07, and 10-08 to be significant deficiencies.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City of Kingsport, Tennessee Internal School Funds’ financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed instances of noncompliance or other matters that are required to be reported under Government Auditing Standardsand which are described in the accompanying schedule of findings as items 15-01, 15-02, 15-03, 10-06, 10-07, and 10-08.
City of Kingsport, Tennessee Internal School Funds’ Response to Findings
The City of Kingsport, Tennessee Internal School Funds’ response to the findings identified in our audit is described in the accompanying schedule of findings. The City of Kingsport, Tennessee Internal School Funds’ response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
CERTIFIED PUBLIC ACCOUNTANTSBristol, Virginia September 21, 2015
SCHEDULE OF FINDINGS
SCHEDULE OF FINDINGS
(Continued)60
FINDINGS – FINANCIAL STATEMENT AUDIT
Current Year Findings
15-01: Material Weakness- Due to Board of Education
Criteria: As specified in the Tennessee Internal School Uniform Accounting Policy Manual (the Manual) when an individual school is collecting funds on behalf of the board of education the bookkeeper should record the transactions by making the appropriate debits and credits in the cash and liability accounts. Since the school is acting only as a collection agency for the board of education, this activity will not affect any revenue or expenditure accounts.
Condition: One of the middle schools incorrectly recorded technology fees collected on behalf of the board of education as revenue to the school’s internal school funds.
Effect: The financial statements were materially misstated and the middle school is out of compliance with the Manual in regards to the proper accounting for payments collected on behalf of the board of education.
Recommendation: In order to comply with procedures stated in the Manual the school should record a liability for any funds collected on behalf of the board of education.
Management Response: A restricted account was used as a holding account with the intention of the revenue being reversed and the funds distributed to the board of education prior to June 30. However, due to an oversight this distribution did not occur.
15-02: Significant Deficiency- Deficit Fund Balances
Criteria: As specified in the Tennessee Internal School Uniform Accounting Policy Manual (the Manual) deficit fund balances are not allowable in either the general fund or a restricted fund.
Condition: The high school has a deficit fund balance for the restricted athletics fund.
Effect: The high school did not comply with the Manual in regards to deficit fund balances.
Recommendation: In order to comply with procedures stated in the Manual, all fund balances must be self-supporting and are not allowed to have a deficit balance. We recommend that each fund be maintained on a self-supporting basis.
Management Response: Funds had been earmarked to transfer to the athletics fund. However, due to an oversight this transfer did not occur prior to year end but the transfer was recorded during the first month of the new fiscal year.
SCHEDULE OF FINDINGS
(Continued)61
FINDINGS – FINANCIAL STATEMENT AUDIT (CONTINUED)
Current Year Findings (continued)
15-03: Significant Deficiency- Credit Cards
Criteria: As specified in the Tennessee Internal School Uniform Accounting Policy Manual (the Manual), each school has specific internal controls for credit cards.
Condition: One of the elementary schools failed to maintain a custody log for the school’s internal school funds credit card as required by the Manual.
Effect: The school is not in compliance with credit card procedures as defined in the Manual. In addition, failing to properly maintain a log of who has the school’s credit card could result in improper purchases being made on the school’s credit card or loss of the credit card and no accountability for the user.
Recommendation: In order to comply with procedures stated in the Manual and implement proper controls over credit card usage, a log should be properly maintained by the school bookkeeper that tracks credit card users.
Management Response: A credit card usage log has been discussed with the school bookkeeper. In order to be in compliance with credit card procedures, a log that tracks credit card users will be maintained by the school bookkeeper.
Prior Year Findings Not Implemented
10-06: Significant Deficiency – Cash Receipts
Criteria: As specified in the Tennessee Internal School Uniform Accounting Policy Manual (the Manual), each school has specific internal controls for cash receipts.
Condition: Four elementary schools were not following prescribed procedures for cash receipts.
The following issues were noted at the elementary schools:
We noted one instance where funds were not deposited in the bank within three days of collection; one instance of the Count of Collection form not being completed when required; and eight instances of cash collections not being remitted to the bookkeeper by teachers in a timely manner.
Effect: The effect of these issues cause the school to not be in compliance with cash receipts procedures as defined in the Manual. In addition, funds not timely remitted and deposited or properly accounted for could heighten the risk of theft and increases the likelihood of errors.
SCHEDULE OF FINDINGS
(Continued)62
FINDINGS – FINANCIAL STATEMENT AUDIT (CONTINUED)
Prior Year Findings Not Implemented (Continued)
10-06: Significant Deficiency – Cash Receipts (Continued)
Recommendation: The Manual states that teachers who collect money should prepare a collection record. Teachers should issue prenumbered receipts to students or use a collection log documenting the name of the school, the purpose of the collection, the name of the teacher/other or club/class, the payers, the date of collection, and the daily total. This money should be turned into the bookkeeper on a daily basis and deposited within three days and the teacher should obtain a receipt indicating the amount of money turned in which should reconcile to the daily collection log. For those collections that do not lend themselves to the use of a collection log, two responsible individuals should complete a Count of Collection form with the date, purpose of collection, itemization of incremental collection, and two signatures included. The bookkeeper should recalculate the total, record the date of collection in the office, receipt number and total on the log and initial the logs.
Management Response:
Elementary SchoolsEffort will continue to be made by the school bookkeeper to deposit all cash collected within three days of collection. There will be an ongoing review with school bookkeepers as to when it is appropriate to use the Count of Collections form. There has been a review with appropriate personnel regarding remittance of funds to the bookkeeper on a daily basis.
10-07: Significant Deficiency – Cash Disbursements
Criteria: As explained in the Tennessee Internal School Uniform Accounting Policy Manual (theManual), each school has specific internal controls for cash disbursements.
Condition: The high school, one middle school, and one of the elementary schools were not following the Manual’s guidelines for cash disbursements.
The following issue was noted at the high school:
One instance of bids not being obtained or documentation maintained stating why bids were unable to be obtained as required by the Manual.
The following issues were noted at the middle school:
One instance of a reconciliation of cash disbursed to a faculty member to take on a field trip for student meals was not performed accurately in order to account for remaining cash not used.
One instance of no supporting documentation retained for a disbursement or any notation present showing that product was received or service rendered.
SCHEDULE OF FINDINGS
(Continued)63
FINDINGS – FINANCIAL STATEMENT AUDIT (CONTINUED)
Prior Year Findings Not Implemented (Continued)
10-07: Significant Deficiency – Cash Disbursements (Continued)
The following issue was noted at the elementary school:
Six instances where there was no notation indicating that the products had been receivedor services rendered.
Effect: The effects of these deficiencies cause the school to not be in compliance with purchasing procedures as defined in the Manual. Where invoices or packing slips are not reviewed for proper receipt of services or products, it is possible for payment to be made on items or services actually not received. Documentation should be required for review and retention to support disbursements to reduce the risk of inappropriate outflow of cash. Accurate reconciliations should be performed when cash is disbursed to a faculty member to verify the funds were spent as intended and that the proper amount of cash is being returned and deposited into the school funds. Bids or quotations should be obtained in accordance with policy to protect against violation of conflicts of interest and to ensure competitive pricing.
Recommendation: The schools should follow the procedures for cash disbursements set forth in the Manual. Supporting documentation should be retained and marked “received” when the good or service is received. Reconciliations should be accurately performed by the bookkeeper when a faculty member is given cash for field trip expenses. Bids and quotations should be required prior to authorization of expenditures.
Management Response:
High SchoolWe concur with the recommendation. Efforts were made to locate vendors that might offer equipment that would support the motor development needs at Palmer. One vendor had a particular solution to meet the needs. This vendor became the sole source provider; however, this information was not properly documented.
Middle SchoolWe concur with the recommendations. The sponsor did provide documentation for the cash disbursement; however, reconciliation would have revealed the documentation was inaccurate. Upon review, the sponsor was able to accurately complete the documentation. Payment was made from an email request by the sponsor for a convention registration. Upon review, the sponsor was able to provide a registration form.
Elementary SchoolThere has been a review with the school bookkeeper regarding notation indicating that the products had been received or services rendered.
SCHEDULE OF FINDINGS
(Continued)64
FINDINGS – FINANCIAL STATEMENT AUDIT (CONTINUED)
Prior Year Findings Not Implemented (Continued)
10-08: Significant Deficiency – Donations
Criteria: The Tennessee Internal School Uniform Accounting Policy Manual (the Manual) specifies the procedures for completing Donation / Allocation Summary Reports. The school is required to prepare a report identifying purpose of the donation, source, date received and a listing of related disbursements.
Condition: One instance of a donation summary report not being prepared as required at an elementary school.
Effect: The failure to properly complete and review Donation / Allocation Summary Reports for all sources of donations not only allows the opportunity for misuse of funds, but also violates the guidelines for donation procedures as outlined in the Manual.
Recommendation: A Donation / Allocation Summary Report should be prepared for all donations received. All Donation Reports should be reviewed and approved by the Principal, or designee. All donations received for restricted use should be verified as properly expended or restricted for use in a future year. Donor correspondence should be maintained to support amount and purpose.
Management Response: We concur with the recommendation. Effort will continue to be made to complete a donation summary report as required.
SCHEDULE OF FINDINGS
65
Prior Year Findings Implemented
Type Number Page Subject
Prior Year Material Weakness 14-01 58 Bank ReconciliationsPrior Year Significant Deficiency 12-02 58-59 Accounts Payable Prior Year Significant Deficiency 09-01 62 Fundraisers
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