Transcript Slide 1

7/21/2015
Independent School District
No. 51, Foley, MN
June 30, 2013
Independent Auditor’s Report
• Financial statements are management’s responsibility; auditor’s
responsibility to express an opinion on them.
• Audit includes examining, on a test basis, evidence supporting
amounts and disclosures in the financial statements.
• Unmodified Opinion on the District’s basic financial statements
which comprise the District’s governmental activities, each
major fund, and the aggregate remaining funds and budget to
actual statement for the District’s General Fund.
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Other Components of the Audit
• Report on the results of an audit performed in accordance with
Government Auditing Standards
• Significant Deficiencies
• Lack of Segregation of Accounting Duties
• Financial Statement Preparation
• Report on results of a Single Audit performed in accordance with
OMB Circular A-133
• Unmodified opinion on compliance with requirements of major
federal programs
• Child Nutrition Cluster
• Title One
• No Internal Control Findings
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Other Components of the Audit
• Report on the results of testing on Minnesota Legal
Compliance – no findings
• Financial Analysis, Findings and Management
Recommendations as provided in the Communication Letter
• Audit of the District’s Student Activity Accounts
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Pupil Unit Funding – General Education Aid
Year
Formula Allowance
Percent
Amount
Increase
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015*
$ 4,601
4,601
4,782
4,974
5,074
5,124
5,124
5,124
5,174
5,224
5,302
5,806
0.0%
0.0%
4.0%
4.0%
2.0%
1.0%
0.0%
0.0%
1.0%
1.0%
1.5%
1.5%
* Of the $ 504 increase over 2014, $ 80 is for inflation at 1.5%; the remaining
$ 424 is a shifting of revenue to adjust for pupil weight changes, pension
adjustments changes and other restructuring.
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Average Daily Membership (ADM) and Pupil
Units
Resident ADM
Kindergarten and Other
Elementary
Secondary
Total Resident ADM
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2009
139.38
730.06
731.74
1,601.18
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2010
127.27
754.81
721.83
1,603.91
2011
137.99
771.28
730.01
1,639.28
2012
138.97
773.41
759.60
1,671.98
2013*
142.30
756.45
761.86
1,660.61
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Weighted Average Daily Membership (WADM)
Handicapped
PreKindergarten
Years 2009-2013
1.250
WADM Served
Residents
Resident WADM (Loss)
Nonresident WADM Gain
Total WADM Served
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2009
1,844.94
(86.85)
158.43
1,916.52
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Elementary
Kindergarten Kindergarten Grade 1-3 Grade 4-6 Secondary
1.000
2010
1,851.38
(103.26)
184.18
1,932.30
0.612
1.115
2011
1,884.41
(95.27)
209.80
1,998.94
1.060
2012
1,926.71
(114.33)
225.20
2,037.58
1.300
2013*
1,914.36
(116.20)
229.26
2,027.42
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General Fund Sources of Revenue
Local Property Taxes
State Sources
Other
Total
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$
$
2009
776,464 $
12,287,169
1,245,840
12,714,572 $
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2010
879,370 $
11,448,211
2,401,130
14,728,711 $
2011
1,210,477 $
12,527,137
1,453,661
15,191,275 $
2012
855,291 $
13,513,577
1,504,087
15,872,955 $
2013
884,628
13,752,980
1,243,850
15,881,458
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General Fund Revenues
Budget and Actual
$16,000,000
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$Budget
Actual
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Local Property Taxes
$829,502
884,628
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State Sources
$13,546,739
13,752,980
Other
$1,117,231
1,243,850
Revenues
ISD No. 51 Foley
General Fund
Food Service
Community Service
Building Construction
Debt Service
Total Revenues Per Student
2009*
2010*
2011*
2012*
2013 (est.)
$
8,508 $
8,739 $
8,672 $
8,892 $
8,949
518
532
532
541
546
291
279
285
266
273
411
39
28
1
1,703
1,717
1,737
1,812
1,834
$ 11,431 $ 11,306 $ 11,254 $
11,512 $
11,602
Average for Similar Sized Districts
General Fund
Food Service
Community Service
Building Construction
Debt Service
Total Revenues Per Student
2009**
2010**
2011**
2012**
$
9,123 $
9,142 $
9,338 $
9,304
437
440
449
456
359
344
353
357
34
18
19
19
870
855
1,023
1,070
$ 10,823 $ 10,799 $ 11,182 $
11,206
Average for All Districts
General Fund
Food Service
Community Service
Building Construction
Debt Service
Total Revenues Per Student
2009**
2010**
2011**
2012**
$ 10,185 $ 10,301 $ 10,537 $
10,545
449
464
472
486
490
486
510
521
104
82
173
140
994
996
1,072
1,107
$ 12,222 $ 12,329 $ 12,764 $
12,799
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Expenditures
ISD No. 51 Foley
2009*
2010*
2011*
2012*
2013 (est.)
General Fund
$
8,168 $
8,447 $
8,181 $
8,395 $
8,774
Food Service
505
496
519
549
538
Community Service
288
285
287
268
274
Building Construction
6,560
4,219
1,013
201
412
Debt Service
1,914
1,662
1,754
1,749
2,026
Total Expenditures Per Student $ 17,435 $ 15,109 $ 11,754 $
11,162 $
12,024
Average for Similar Sized Districts 2009**
2010**
2011**
2012**
General Fund
$
9,363 $
9,097 $
9,073 $
9,167
Food Service
434
427
437
447
Community Service
355
339
349
358
Building Construction
1,089
1,242
1,635
1,345
Debt Service
1,076
1,248
1,488
1,229
Total Expenditures Per Student $ 12,317 $ 12,353 $ 12,982 $
12,546
Average for All Districts
2009**
2010**
2011**
2012**
General Fund
$ 10,630 $ 10,228 $ 10,207 $
10,297
Food Service
454
458
469
486
Community Service
522
513
515
526
Building Construction
980
698
765
738
Debt Service
1,244
1,129
1,152
1,337
Total Expenditures Per Student $ 13,830 $ 13,026 $ 13,108 $
13,384
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General Fund Expenditures
Budget and Actual
$9,000,000
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$-
District and
District Support
School
Services
Administration
Budget
$920,631
$477,010
Actual
1,001,813
411,025
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Regular
Instruction
Vocational
Instruction
$8,055,172
7,825,859
$109,895
119,523
Special
Education
Instruction
$2,643,537
2,623,801
Instructional
Support
Services
$837,293
748,502
Pupil Support
Services
Sites, Buildings
and Equipment
$1,185,453
1,226,631
$1,249,211
1,184,467
Fiscal and
Other Fixed
Cost Programs
$72,480
73,492
Capital Outlay
$432,103
383,320
General Fund Operations
For the Year Ended June 30,
Revenues
Expenditures
Excess of Revenues Over
Expenditures
Other Financing Sources
Fund Balance, July 1
Total Fund Balance, June 30
Less Nonspendable Fund Balances
Less Restricted Fund Balances
Less Committed Fund Balances
Less Assigned Fund Balances
Less Designated Fund Balances
Unassigned Fund Balance, June 30
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2009
2010
2011
2012
2013
$ 14,309,473 $ 14,728,711 $ 15,191,275 $ 15,872,955 $ 15,881,458
13,737,540
14,236,295
14,330,095
14,985,011
15,598,433
$
571,933
3,785,343
4,357,276
1,162,990
1,492,112
1,702,174 $
492,416
1,170
4,357,276
4,850,862
1,219,426
1,878,659
1,752,777 $
861,180
4,850,862
5,712,042
13,821
1,929,877
1,700,597
193,929
1,873,818 $
887,944
130
5,712,042
6,600,116
12,473
2,176,546
1,700,597
521,875
2,188,625 $
283,025
6,600,116
6,883,141
25,606
2,115,837
1,700,597
578,013
2,463,088
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Food Service Fund
For the Year Ended June 30,
Revenues
Expenditures
Excess of Revenues Over
(Under) Expenditures
Fund Balance, July 1
Fund Balance, June 30
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$
$
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2009
871,868 $
849,673
2010
895,862 $
835,935
2011
931,593 $
908,798
2012
965,989 $
979,350
2013
968,124
955,329
22,195
146,194
168,389 $
59,927
168,389
228,316 $
22,795
228,316
251,111 $
(13,361)
251,111
237,750 $
12,795
237,750
250,545
Community Service Fund
For the Year Ended June 30,
Revenues
Expenditures
Excess of Revenues Over
(Under) Expenditures
Fund Balance, July 1
Fund Balance, June 30
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$
$
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2009
490,038 $
484,993
2010
470,101 $
479,525
2011
498,934 $
502,078
2012
473,996 $
477,829
2013
485,261
485,582
5,045
79,057
84,102 $
(9,424)
84,102
74,678 $
(3,144)
74,678
71,534 $
(3,833)
71,534
67,701 $
(321)
67,701
67,380
Questions?
Nancy Schulzetenberg
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