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INDEPENDENT SCHOOL DISTRICT NO. 13Columbia Heights, MinnesotaAudited Financial StatementsJune 30, 2014
11/25/2014Independent School District No. 13 | | 2
Independent Auditor’s Reports
• Unmodified Opinion on Financial Statements- Financial Statements are materially accurate
• Unmodified Opinion on Single Audit- Tested compliance with Child Nutrition, Special
Education• Unmodified Opinion on Minnesota Legal Compliance
11/25/2014Independent School District No. 13 | | 3
General Fund Operations• Budgeted Revenues of $42.9 million• Budgeted Expenditures of $42.9 million• Fund Balance increase budgeted at $45 thousand
• Actual Revenues were $41.5 million, $1.462 million less than budgeted – targeted services, special ed aid, desegregation transportation aid, HMVC aid, Integration aid, Title I and II, federal special ed
• Actual Expenditures were $42.5 million, $333 thousand under budget – regular staffing, ALC, mid year hiring, transportation
• Fund Balance declined $857 thousand to $3.955 million
11/25/2014Independent School District No. 13 | | 4
Students (Resident ADM)
* Estimate as of October 28, 2014
1,489 1,504 1,490 1,475 1,516
1,507 1,544 1,602 1,682 1,748
325 316 348 338 363
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2010 2011 2012 2013 2014*
Secondary Elementary Kindergarten and Other
Weighted Average Daily Membership (WADM)
11/25/2014Independent School District No. 13 | | 5
* Estimate as of October 28, 2014
Breakdown of WADM Served 2010 2011 2012 2013 2014*
Regular 3,367 3,442 3,457 3,474 3,598
Area Learning Center - - - - 120
Total WADM Served 3,367 3,442 3,457 3,474 3,718
WADM Served 2010 2011 2012 2013 2014*
Residents 3,804 3,854 3,926 3,989 4,129
Nonresident WADM Coming In 694 775 859 886 947
Resident WADM Going Elsewhere (1,131) (1,187) (1,328) (1,401) (1,358)
Total WADM Served 3,367 3,442 3,457 3,474 3,718
General Fund Sources of Revenue
11/25/2014Confidential | | 6
$5,738,182 $7,772,666
$5,485,712 $5,720,631 $3,710,334
$23,080,956
$25,567,221 $27,593,202 $28,974,429
$34,708,324 $6,148,902
$3,961,777 $3,878,707
$3,427,080
$3,045,725
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
2010 2011 2012 2013 2014
Local Taxes State Revenues Other Revenues
Expenditures per ADM Served
11/25/2014Confidential | | 7
ISD No. 13 Columbia Heights 2010* 2011* 2012* 2013* 2014**
General Fund 11,251$ 11,844$ 12,203$ 12,823$ 12,823$
General Fund (Less OPEB
Contributions) 11,185 11,527 12,202 12,823 12,823
Food Service 573 559 605 582 642
Community Service 367 400 473 498 492
Building Construction 285 53 177 930 131
Debt Service**** 787 778 779 846 662
Total Expenditures Per Student 13,263$ 13,634$ 14,237$ 15,679$ 14,750$
State Average* 2010*** 2011*** 2012*** 2013*** 2014
General Fund 10,251$ 10,244$ 10,336$ 10,666$ N/A
Food Service 455 466 483 497 N/A
Community Service 496 498 507 515 N/A
Building Construction 669 733 704 673 N/A
Debt Service 1,081 1,102 1,275 1,173 N/A
Total Expenditures Per Student 12,952$ 13,043$ 13,305$ 13,524$
General Fund Operations
11/25/2014Independent School District No. 13 | | 8
For the Year Ended June 30, 2010 2011 2012 2013 2014
Revenues and Other Sources 34,968,040$ 37,301,664$ 36,957,621$ 38,122,140$ 41,464,383$
Expenditures 33,176,523 35,584,192 36,973,262 39,127,266 42,548,108
Excess of Revenues Over
(Under) Expenditures 1,791,517 1,717,472 (15,641) (1,005,126) (1,083,725)
Other Sources 525 3,549 50 3,868 226,471
Fund Balance, July 1 2,341,765 4,786,493 5,829,263 5,813,672 4,812,414
Prior Period Adjustment 652,686 (678,251) - - -
Fund Balance, July 1, Restated 2,994,451 4,108,242 5,829,263 5,813,672 4,812,414
Fund Balance, June 30 4,786,493$ 5,829,263$ 5,813,672$ 4,812,414$ 3,955,160$
Components of Fund Balance
Unassigned 4,112,018$ 4,163,931$ 4,043,433$ 3,854,778$ 2,426,534$
Assigned for:
Student Activities 107,239 103,283 130,167 124,767 127,654
Employees Flex Spending Account - 16,535 10,190 7,208 8,460
Severance-Insurance Premium 958,360 - - - -
Restricted/Reserved for:
Staff Development 46,290 103,963 32,218 - 232,019
Deferred Maintenance 164,922 233,546 243,446 207,266 137,017
Operating Capital 111,122 354,151 458,046 29,198 48,522
Health and Safety (721,456) (58,861) (176,636) (483,253) (228,626)
Alternative Learning Center - - - - 4,022
Safe Schools - Crime Levy 7,998 - - - -
Basic Skills Program - 818,004 1,011,384 987,360 966,071
Nonspendable for:
Inventory - 38,180 38,521 51,477 79,308
Prepaid Items - 56,531 22,903 33,613 154,179
Total Fund Balance, June 30 4,786,493$ 5,829,263$ 5,813,672$ 4,812,414$ 3,955,160$
General Fund Financial Position
11/25/2014Independent School District No. 13 | | 9
$2,648,183
$(166,014) $(140,961)
$3,276,828
$4,184,746 $4,786,493
$5,829,263 $5,813,672
$4,812,414
$3,955,160
$(1,000,000)
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
2010 2011 2012 2013 2014
Cash and Investments (Net of Borrowing) General Fund Balance
Unrestricted Fund Balance as Percent of Unrestricted Expenditures
11/25/2014Independent School District No. 13 | | 10
17.9%
20.9%
22.9%22.2%
17.1%
20.1% 22.0%
23.3%
20.2%
15.4%14.9%
14.0%
9.4%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2010* 2011* 2012* 2013* 2014**
All Schools and Charters* ADM 2200-4449* Columbia Heights School District
Food Service Fund
11/25/2014Independent School District No. 13 | | 11
For the Year Ended June 30, 2010 2011 2012 2013 2014
Revenues 1,628,532$ 1,756,618$ 1,855,853$ 1,912,273$ 2,049,204$
Expenditures 1,689,810 1,679,372 1,833,066 1,776,093 2,128,899
Excess of Revenues Over
(Under) Expenditures (61,278) 77,246 22,787 136,180 (79,695)
Other Sources 7,500 225 - - -
Fund Balance, July 1 205,382 151,604 229,075 251,862 388,042
Fund Balance, June 30 151,604$ 229,075$ 251,862$ 388,042$ 308,347$
Community Service Fund
11/25/2014Independent School District No. 13 | | 12
For the Year Ended June 30, 2010 2011 2012 2013 2014
Revenues 1,125,671$ 1,252,285$ 1,334,905$ 1,442,396$ 1,605,033$
Expenditures 1,083,572 1,200,741 1,432,457 1,518,815 1,633,271
Excess of Revenues Over
(Under) Expenditures 42,099 51,544 (97,552) (76,419) (28,238)
Fund Balance, July 1 236,682 278,781 330,325 232,773 156,354
Fund Balance, June 30 278,781$ 330,325$ 232,773$ 156,354$ 128,116$