Mooresville Graded School District

Size: px
Start display at page:

Download "Mooresville Graded School District"

Transcription

1 Mooresville Graded School District Financial Report Year Ended June 30, 2014

2 TABLE OF CONTENTS Exhibit Page No. Independent Auditors Report... 1 Management s Discussion and Analysis... 4 Basic Financial Statements: Government wide Financial Statements: 1 Statement of Net Position Statement of Activities Fund Financial Statements: 3 Balance Sheet Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual General Fund and Annually Budgeted Major Special Revenue Funds 17 6 Statement of Net Position Proprietary Funds Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds Statement of Cash Flows Proprietary Funds Statement of Fiduciary Net Position Fiduciary Fund Statement of Changes in Fiduciary Net Position - Fiduciary Fund Notes to the Financial Statements Individual Fund Statements and Schedules: A-1 Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - General Fund B-1 Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual Capital Outlay Fund C-1 Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual Federal Grants Fund D-1 Schedule of Revenues and Expenditures Budget and Actual (Non-GAAP) School Food Service Fund D-2 Schedule of Revenues and Expenditures Budget and Actual (Non-GAAP) Child Care Fund Compliance Report... 51

3 A S W ANDERSON SMITH & WIKE PLLC Certified Public Accountants INDEPENDENT AUDITORS REPORT The Board of Education Mooresville Graded School District Mooresville, North Carolina Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the businesstype activities, each major fund, and the aggregate remaining fund information of the Mooresville Graded School District, as of and for the year ended June 30, 2014, and the related notes to the financial statements, which collectively comprise the Board s basic financial statements 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 accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error. Auditors Responsibility Our responsibility is to express opinions 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 auditors 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. 1

4 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the Mooresville Graded School District as of June 30, 2014, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund, the State Public School Fund, and the Other Special Revenue Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that Management s Discussion and Analysis on pages 4 through 12 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evident to express an opinion or provide any assurance. Supplementary and Other Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Mooresville Graded School District s basic financial statements. The individual non-major fund financial statements and schedules, budgetary schedules and other schedules, as well as the accompanying schedule of expenditures of federal and State awards as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and the State Single Audit Implementation Act, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The individual non-major fund financial statements, budgetary schedules, other schedules and the accompanying schedule of expenditures of federal and State awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements 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 themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the individual non-major fund financial statements, budgetary schedules, other schedules, and the accompanying schedule of expenditures of federal and State awards are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. 2

5 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated September 19, 2014 on our consideration of Mooresville Graded School District s internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, 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 the 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 Mooresville Graded School District s internal control over financial reporting and compliance. September 19, 2014 Statesville, North Carolina (704)

6 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 This section of the Mooresville Graded School District s (the Board) financial report represents our discussion and analysis of the financial performance of the Board for the year ended June 30, This information should be read in conjunction with the audited financial statements included in this report. Financial Highlights Our Board is providing laptops for our students in grades Students in grades 4-12 have use of the laptops 24/7 during the school year. Our third grade students have use of the laptops during the school day. Smart Boards and classroom carts of laptops are available to our students in grades K-2. We credit this and the commitment of our excellent staff to the academic success of our students. Overview of the Financial Statements The audited financial statements of the Mooresville Graded School District consist of four components. They are as follows: Independent Auditors Report Management's Discussion and Analysis (required supplementary information) Basic Financial Statements Required supplemental section that presents combining and budgetary statements for non-major governmental funds and budgetary statements for enterprise funds The Basic Financial Statements include two types of statements that present different views of the Board s finances. The first is the government-wide statements. The government-wide statements are presented on the full accrual basis of accounting and include the statement of net position and the statement of activities. The statement of net position includes all of the Board s assets and liabilities. Assets and liabilities are classified in the order of relative liquidity for assets and due date for liabilities. This statement provides a summary of the Board's investment in assets and obligations to creditors. Liquidity and financial flexibility can be evaluated using the information contained in this statement. The Statement of Activities summarizes the Board s revenues and expenses for the current year. A net (expense) revenue format is used to indicate to what extent each function is selfsufficient. Page 4

7 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 The second type of statement included in the basic financial statements is the Fund Financial Statements, which are presented for the Board s governmental funds, proprietary funds, and fiduciary fund. These statements present the governmental funds on the modified accrual basis of accounting, measuring the near term inflows and outflows of financial resources and what is available at year-end to spend in the next fiscal year. The proprietary and fiduciary funds are presented on the full accrual basis of accounting. The fund financial statements focus on the Board s most significant funds. Because a different basis of accounting is used in the government wide statements, reconciliation from the governmental fund financial statements to the government-wide statements is required. The government-wide statements provide information about the Board as an economic unit while the fund financial statements provide information on the financial resources of each of the Board s major funds. Government-wide Statements The government-wide statements report information about the unit as a whole using accounting methods similar to those used by private-sector companies. The Statement of Net Position includes all of the Board s assets and liabilities. All of the current year s revenues and expenses are accounted for in the statement of activities regardless of when cash is received or paid. The two government-wide statements report the Board s net position and how they have changed. Net position the difference between the Board s assets and liabilities is one way to measure the unit s financial health or position. Over time, increases or decreases in the Board s net position are an indicator of whether its financial position is improving or deteriorating. To assess the Board s overall health, you need to consider additional non-financial factors such as changes in Iredell County s (the County ) property tax base and the condition of its school buildings and other physical assets. The unit s activities are divided into two categories in the government-wide statements: Governmental activities: Most of the Board s basic services are included here, such as regular and special education, transportation, and administration. County funding and state and federal aid finance most of these activities. Business-type activities: The Board charges fees to help it cover the costs of certain services it provides. School food service and childcare services are included here. The government-wide statements are shown as Exhibits 1 and 2 of this report. Fund Financial Statements The fund financial statements provide more detailed information about the Board s funds, focusing on its most significant or major funds not the unit as a whole. Funds are accounting devices the Board uses to keep track of specific sources of funding and spending on particular programs. Some funds are required by State law, such as the State Public School Fund. Page 5

8 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 The Board has established other funds to control and manage money for a particular purpose or to show that it is properly using certain revenues, such as in the Federal Grants fund. Mooresville Graded School District has three types of funds: Governmental funds: Most of the Board s basic services are included in the governmental funds, which generally focus on two things how cash and other assets can readily be converted to cash flow in and out, and the balances left at year-end that are available for spending. As a result of this focus, the governmental funds statements provide a detailed short-term view that helps the reader determine whether there are more or fewer financial resources that can be spent in the coming year to finance the Board s programs. Because this information does not encompass the additional long-term focus of the government-wide statements, additional information at the bottom of the governmental funds statements, in the form of a reconciliation, explains the relationship (or differences) between the government-wide and the fund financial statements. The Board has several governmental funds: the General Fund, the State Public School Fund, the Individual Schools Fund, the Capital Outlay Fund, and the Federal Grants Fund. The governmental fund statements are shown as Exhibits 3, 4 and 5 of this report. Proprietary funds: Services for which the Board charges a fee are generally reported in the proprietary funds. The proprietary fund statements are reported on the same full accrual basis of accounting as the government-wide statements. Mooresville Graded School District has two proprietary funds both enterprise funds the School Food Service Fund and the Child Care Fund. The proprietary fund statements are shown as Exhibits 6, 7, and 8 of this report. Fiduciary fund: Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Mooresville Graded School District has one fiduciary fund the Administrative Fund, which is a scholarship fund under the control of the administrative unit. This is accounted for as a private purpose trust fund. The fiduciary fund statements are shown as Exhibits 9 and 10 of this report. Financial Analysis of the Schools as a Whole Net position is an indicator of the fiscal health of the Board. Assets exceeded liabilities by $68,708,009 as of June 30, The largest component of net position is net investment in capital assets, of $62,472,985. It comprises 91% of the total net position. Page 6

9 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 Following is a summary of the Statement of Net Position: Table 1 Condensed Statement of Net Position As of June 30, 2014 and 2013 Governmental Acitivities Business-type Activities Total Primary Government 6/30/2014 6/30/2013 6/30/2014 6/30/2013 6/30/2014 6/30/2013 Current assets $ 9,471,624 $ 9,426,213 $ 1,499,028 $ 1,279,394 $ 10,970,652 $ 10,705,607 Capital assets 63,673,078 68,275, , ,401 64,284,815 68,992,907 Total assets 73,144,702 77,701,719 2,110,765 1,996,795 75,255,467 79,698,514 Current liabilities 3,980,552 4,700, ,869 92,714 4,082,421 4,792,863 Long-term liabilities 2,423,504 4,116,496 41,533 56,693 2,465,037 4,173,189 Total liabilities 6,404,056 8,816, , ,407 6,547,458 8,966,052 Net investment in capital assets 61,861,248 63,832, , ,401 62,472,985 64,549,684 Restricted net position 2,809,583 2,979, ,809,583 2,979,198 Unrestricted net position 2,069,815 2,073,593 1,355,626 1,129,987 3,425,441 3,203,580 Total net assets $ 66,740,646 $ 68,885,074 $ 1,967,363 $ 1,847,388 $ 68,708,009 $ 70,732,462 Note that net position decreased during the year, indicating a decline in the financial condition of the Board. The decrease in net position was due largely to a decrease in capital assets. Net position increased in the business-type activities primarily due to an increase in net position from the Child Care fund. Also note that the Board carries capital assets for which Iredell County carries the offsetting debt. Page 7

10 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 The following table shows the revenues and expenses for the Board for the current fiscal year. Table 2 Condensed Statement of Revenues, Expenses, and Changes in Net Position For the Fiscal Years Ended June 30, 2014 and 2013 Governmental Activities Business-type Activities Total Primary Government 6/30/2014 6/30/2013 6/30/2014 6/30/2013 6/30/2014 6/30/2013 Revenues: Program revenues: Charges for services $ 46,866 $ 48,227 $ 1,745,555 $ 1,678,839 $ 1,792,421 $ 1,727,066 Operating grants and contributions 30,070,257 30,731,765 1,642,303 1,607,833 31,712,560 32,339,598 Capital grants and contributions General revenues: Other revenues 17,980,041 16,949,384 3,581 31,441 17,983,622 16,980,825 Total revenues 48,097,164 47,729,376 3,391,439 3,318,113 51,488,603 51,047,489 Expenses: Governmental activities: Instructional services 37,871,693 36,746, ,871,693 36,746,743 System-wide support services 9,614,250 10,333, ,614,250 10,333,130 Ancillary services 178, , , ,016 Non-programmed charges 326, , , ,031 Interest on long-term debt 171, , , ,164 Depreciation 1,929,032 1,926, ,929,032 1,926,429 Business-type activities: School food service - - 2,871,340 2,896,299 2,871,340 2,896,299 Child care , , , ,922 Total expenses 50,092,289 49,569,513 3,420,767 3,447,221 53,513,056 53,016,734 Transfers in (out) (149,303) (383,858) 149, , Increase (decrease) in net position (2,144,428) (2,223,995) 119, ,750 (2,024,453) (1,969,245) Beginning net position 68,885,074 71,109,069 1,847,388 1,592,638 70,732,462 72,701,707 Ending net position $ 66,740,646 $ 68,885,074 $ 1,967,363 $ 1,847,388 $ 68,708,009 $ 70,732,462 Page 8

11 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 Total governmental activities generated revenues of $48.1 million while expenses in this category totaled $50.1 million for the year ended June 30, Comparatively, revenues were $47.7 million and expenses totaled $49.6 million for the year ended June 30, After transfers to the businesstype activities, the decrease in net position stands at approximately $2.1 million at June 30, 2014, compared to a decrease of $2.2 million in Instructional services comprised 76% of total governmental-type expenses while system-wide support services made up 19% of those expenses for County funding comprised 31% of total governmental revenue. In 2013, county funding was 30%. Much of the remaining 69% of total governmental revenue for 2014 consists of restricted State and federal money. Business-type activities generated revenue of $3.4 million and had expenses of $3.4 million. Net position increased in the business-type activities by $119,975, after transfers in from the governmental activities of $149,303. Financial Analysis of the Board s Funds Governmental Funds: The focus of Mooresville Graded School District s governmental funds is to provide information on near-term inflows, outflows, and balances of usable resources. Such information is useful in assessing the Board s financing requirements. The Board s governmental funds reported a combined fund balance of $7,326,965, a $176,504 increase from last year. The General Fund increased by $141,382 while the Capital Outlay Fund decreased fund balance by $260,061. Proprietary Funds: The Board s business-type funds had an increase in net position in the past year. The School Food Service Fund reflected an increase in net position of $119,975. The Child Care Fund s net position did not change. Categorization of Expenditures for Governmental Funds Instructional Services 2,803, ,065 9,449,724 System-Wide Support Services Debt Service 35,124,206 Other Expenditures are presented on the modified accrual basis of accounting. Page 9

12 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 General Fund Budgetary Highlights Over the course of the year, the Board revised the budget several times to account for changes in expenditures. Capital Assets Capital assets decreased by $4,708,112 (7%) from the previous year. This was largely due to current year depreciation expense exceeding capital additions. The following is a summary of the capital assets, net of depreciation at year-end. Table 3 Summary of Capital Assets As of June 30, 2014 and 2013 Governmental Activities Business-type Activities Total Primary Government 6/30/2014 6/30/2013 6/30/2014 6/30/2013 6/30/2014 6/30/2013 Land $ 4,739,492 $ 4,739,492 $ - $ - $ 4,739,492 $ 4,739,492 Buildings and improvements 58,608,935 61,235, ,608,935 61,235,809 Equipment and furniture 195,189 2,089, , , ,926 2,806,481 Vehicles 129, , , ,125 Total $ 63,673,078 $ 68,275,506 $ 611,737 $ 717,401 $ 64,284,815 $ 68,992,907 Debt Outstanding During the year the Board s outstanding debt (COPS financing and capital leases) decreased by $2,631,393. The Board is limited by North Carolina General Statues with regards to the types of debt it can issue and for what purpose that debt can be used. The County holds the majority of the debt issued for school construction. Economic Factors County funding is a major source of income for the Board; therefore the County s economic outlook directly affects that of the Board. The following factors have positively affected the economic outlook of Iredell County. Iredell County enjoys its close proximity to Charlotte and Lake Norman drawing many to relocate here. Iredell County maintains one of the lower property tax rates (48.5) in the state. Our County Commissioners understand the value of good schools to attract new business and industry to our county. Page 10

13 MANAGEMENT S DISCUSSION AND ANALYSIS June 30, 2014 Requests for Information This report is intended to provide a summary of the financial condition of Mooresville Graded School District. Questions or requests for additional information should be addressed to: Terry Haas, Finance Officer Mooresville Graded School District 305 North Main Street Mooresville, NC Page 11

14 STATEMENT OF NET POSITION June 30, 2014 Exhibit 1 Governmental Activities Primary Government Business-type Activities Total ASSETS Cash and cash equivalents $ 6,728,635 $ 1,339,513 $ 8,068,148 Due from other governments 1,706,458 45,800 1,752,258 Receivables (net) 14,364 9,170 23,534 Internal balances (24,738) 24,738 - Taxes receivable, net 139, ,691 Prepaid debt service 907, ,214 Inventories - 79,807 79,807 Capital assets: Land 4,739,492-4,739,492 Other capital assets, net of depreciation 58,933, ,737 59,545,323 Total capital assets 63,673, ,737 64,284,815 Total assets 73,144,702 2,110,765 75,255,467 LIABILITIES Accounts payable and accrued expenses 2,004,968 23,873 2,028,841 Unavailable revenues - 27,370 27,370 Long-term liabilities: Due within one year 1,975,584 50,626 2,026,210 Due in more than one year 2,423,504 41,533 2,465,037 Total liabilities 6,404, ,402 6,547,458 NET POSITION Net investment in capital assets 61,861, ,737 62,472,985 Restricted for: Individual school activities 368, ,701 Stabilization by State statute 94,516-94,516 School Capital Outlay 2,346,366-2,346,366 Unrestricted 2,069,815 1,355,626 3,425,441 Total net position $ 66,740,646 $ 1,967,363 $ 68,708,009 The accompanying notes are an integral part of the financial statements. Page 12

15 STATEMENT OF ACTIVITIES For the Year Ended June 30, 2014 Exhibit 2 Operating Grants and Contributions Capital Grants and Contributions Functions/Programs Expenses Charges for Services Primary government: Governmental Activities: Instructional services: Regular instructional $ 25,661,979 $ 21,264 $ 18,110,185 $ - Special populations 4,797,264-4,236,706 - Alternative programs 1,777,064-1,532,183 - School leadership 2,500,456-1,137,977 - Co-curricular services 496, School-based support 2,638,298-1,863,651 - System-wide support services Support and development 481,441-57,648 - Special population support and development Technology support 856,432-69,630 - Operational support 6,289,439 25,602 2,629,800 - Financial and human resource services 9, ,722 - Accountability 3, System-wide pupil support 511, Policy, leadership and public relations 1,462, ,963 - Ancillary services 178,955-8,720 - Non-programmed charges 326,620-42,993 - Interest on long-term debt 171, Unallocated depreciation expense** 1,929, Total governmental activities 50,092,289 46,866 30,070,257 - Business-type activities: School food service 2,871,340 1,266,806 1,642,303 - Child care 549, , Total business-type activities 3,420,767 1,745,555 1,642,303 - Total primary government $ 53,513,056 $ 1,792,421 $ 31,712,560 $ - General revenues: Unrestricted county appropriations - operating Unrestricted county appropriations - capital Unrestricted State appropriations - capital Investment earnings, unrestricted Miscellaneous, unrestricted Transfers Total general revenues and transfers Change in net position Net position-beginning Net position-ending Program Revenues ** This amount excludes the depreciation that is included in the direct expenses of the various programs The accompanying notes are an integral part of the financial statements. Page 13

16 Net (Expense) Revenue and Changes in Net Position Primary Government Governmental Activities Business-type Activities Total $ (7,530,530) $ - $ (7,530,530) (560,558) - (560,558) (244,881) - (244,881) (1,362,479) - (1,362,479) (496,632) - (496,632) (774,647) - (774,647) (423,793) - (423,793) (786,802) - (786,802) (3,634,037) - (3,634,037) 160, ,924 (3,864) - (3,864) (511,065) - (511,065) (1,252,169) - (1,252,169) (170,235) - (170,235) (283,627) - (283,627) (171,739) - (171,739) (1,929,032) - (1,929,032) (19,975,166) - (19,975,166) - 37,769 37,769 - (70,678) (70,678) - (32,909) (32,909) (19,975,166) (32,909) (20,008,075) 13,595,616-13,595,616 1,090,000-1,090,000 26,380-26, ,581 3,666 3,267,960-3,267,960 (149,303) 149,303-17,830, ,884 17,983,622 (2,144,428) 119,975 (2,024,453) 68,885,074 1,847,388 70,732,462 $ 66,740,646 $ 1,967,363 $ 68,708,009

17 BALANCE SHEET - GOVERNMENTAL FUNDS June 30, 2014 Exhibit 3 State Public School Major Funds Individual Schools General Capital Outlay ASSETS Cash and cash equivalents $ 1,053,810 $ - $ 368,701 $ 1,514,066 Receivables (net) Due from other governments 64,073 1,532, Taxes receivable (net) ,691 Prepaid debt service ,214 Total assets $ 1,118,162 $ 1,532,210 $ 368,701 $ 2,560,971 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES Liabilities: Accounts payable and accrued liabilities $ 120,903 $ 1,532,210 $ - $ 74,914 Due to other fund 24, Total liabilities 145,641 1,532,210-74,914 Deferred inflows of resources ,691 Fund balances: Restricted: Stabilization by State statute 64, School capital outlay ,346,366 Individual schools ,701 - Assigned: Special revenues Unassigned 908, Total fund balances 972, ,701 2,346,366 Total liabilities, deferred inflows of resources and fund balances $ 1,118,162 $ 1,532,210 $ 368,701 $ 2,560,971 Amounts reported for governmental activities in the statement of net position (Exhibit 1) are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Taxes receivable are not available to pay for current period expenditures and therefore are deferred in the funds. Some liabilities, including bonds payable and accrued interest, are not due and payable in the current period and therefore are not reported in the funds. Net position of governmental activities The accompanying notes are an integral part of the financial statements. Page 14

18 Major Fund Other Special Revenue Non-major Fund Federal Grants Total Governmental Funds $ 3,792,058 $ - $ 6,728,635 14,085-14,364 16,079 94,096 1,706, , ,214 $ 3,822,222 $ 94,096 $ 9,496,362 $ 182,845 $ 94,096 $ 2,004, , ,845 94,096 2,029, ,691 30,164-94, ,346, ,701 3,609,213-3,609, ,169 3,639,377-7,326,965 $ 3,822,222 $ 94,096 63,673, ,691 (4,399,088) $ 66,740,646

19 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS For the For Year the Year Ended Ended June June 30, 30, Exhibit 4 Major Funds General State Public School Individual Schools Capital Outlay REVENUES State of North Carolina $ - $ 28,354,866 $ - $ - Iredell County 13,595, ,090,000 U.S. Government Other 159,760-1,408,671 29,837 Total revenues 13,755,376 28,354,866 1,408,671 1,119,837 EXPENDITURES Current: Instructional services: Regular instructional 2,799,678 18,045,278 1,348,214 35,958 Special populations 146,637 3,340, Alternative programs 161, , School leadership 1,351,553 1,137, Co-curricular services 494, School-based support 503,350 1,796, System-wide support services: Support and development 421,689 57, Special population support and development Technology support 609,802 69, Operational support 3,064,497 2,613, ,808 Financial and human resource services 338, , Accountability 9, System-wide pupil support Policy, leadership and public relations 1,245, , Ancillary services 169,452 8, Non-programmed charges 326, Debt service: Principal payments 1,786, ,000 Interest and other charges 113, ,132 Total expenditures 13,543,316 28,276,241 1,348,214 1,379,898 Revenues over (under) expenditures 212,060 78,625 60,457 (260,061) OTHER FINANCING SOURCES (USES) Transfers to other funds (70,678) (78,625) - - Net change in fund balance 141,382-60,457 (260,061) Fund balances-beginning 831, ,244 2,606,427 Fund balances-ending $ 972,521 $ - $ 368,701 $ 2,346,366 The accompanying notes are an integral part of the financial statements. Page 15

20 Major Fund Other Special Revenue Non-major Fund Federal Grants Total Governmental Funds $ - $ - $ 28,354, ,685,616 60,594 1,794,016 1,854,610 1,757,294-3,355,562 1,817,888 1,794,016 48,250, ,549 64,907 23,008, , ,285 4,754,391 58, ,804 1,752, ,489, , ,120 67,452 2,625, , , ,294 4,732 16,189 6,139,837-3, , ,755 3,847-3, ,455, ,172-42, , ,631, ,739 1,583,162 1,794,016 47,924, , , (149,303) 234, ,504 3,404,651-7,150,461 $ 3,639,377 $ - $ 7,326,965

21 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS ded For June the Year 30, 2002 Ended June 30, 2014 Exhibit 4 (Continued) Amounts reported for governmental activities in the statement of activities are different because: Net changes in fund balances - total governmental funds $ 176,504 Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which depreciation exceeded capital outlays in the current period. (4,602,428) Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. Change in deferred revenue (153,490) The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction has any effect on net position. Also, governmental funds report the effect of issuance costs, premiums, discounts and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. 2,631,393 Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. Compensated absences (196,407) Total changes in net position of governmental activities $ (2,144,428) The accompanying notes are an integral part of the financial statements. Page 16

22 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND AND ANNUALLY BUDGETED MAJOR SPECIAL REVENUE FUNDS Ended For the June Year 30, 2002 Ended June 30, 2014 Exhibit 5 General Fund Original Budget Final Budget Actual Amounts Variance with Final Budget - Positive (Negative) Revenues: State of North Carolina $ - $ - $ - $ - Iredell County 13,120,920 13,531,543 13,595,616 64,073 U.S. Government Other 162, , ,760 (2,240) Total revenues 13,282,920 13,693,543 13,755,376 61,833 Expenditures: Current: Instructional services: Regular instructional 2,537,492 2,809,540 2,799,678 9,862 Special populations 159, , ,637 4,944 Alternative programs 199, , ,931 1,450 School leadership 1,198,703 1,353,365 1,351,553 1,812 Co-curricular services 519, , ,462 3,244 School-based support 519, , ,350 11,116 System-wide support services: Support and development 459, , , Special population support and development Technology support 646, , , Operational support 3,139,348 3,076,816 3,064,497 12,319 Financial and human resource services 324, , ,110 3,420 Accountability 10,000 11,000 9,755 1,245 System-wide pupil support Policy, leadership and public relations 1,277,090 1,248,417 1,245,780 2,637 Ancillary services 209, , ,452 11,810 Non-programmed charges 355, , , Debt service: Principal payments 1,786,393 1,786,393 1,786,393 - Interest payments 113, , ,607 - Total expenditures 13,456,019 13,608,543 13,543,316 65,227 Revenues over (under) expenditures (173,099) 85, , ,060 Other financing sources uses: Transfers to other funds (78,781) (85,000) (70,678) 14,322 Revenues over (under) expenditures and other uses (251,880) - 141, ,382 Appropriated fund balance 251, Revenue and appropriated fund balance over expenditures and other uses $ - $ - 141,382 $ 141,382 Fund balances, beginning of year 831,139 Fund balances, end of year $ 972,521 The accompanying notes are an integral part of the financial statements. Page 17

23 Original Budget State Public School Fund Final Budget Actual Amounts Variance with Final Budget - Positive (Negative) Original Budget Other Special Revenue Fund Final Budget Actual Amounts Variance with Final Budget - Positive (Negative) $ 27,853,488 $ 28,907,091 $ 28,354,866 $ (552,225) $ - $ - $ - $ ,807 67,807 60,594 (7,213) ,786 1,728,424 1,757,294 28,870 27,853,488 28,907,091 28,354,866 (552,225) 816,593 1,796,231 1,817,888 21,657 18,070,359 18,452,058 18,045, , , , ,549 86,658 3,410,775 3,426,070 3,340,421 85, , , , , , , ,379 44,475-67,382 58,004 9,378 1,155,173 1,146,540 1,137,977 8, ,700-1,700 1,700,165 1,799,954 1,796,199 3, , , , ,237 39,870 58,399 57, ,630 69, , , ,862 81,238 2,194,644 2,615,509 2,613,611 1, , ,994 4, , , , , ,068 8,068 3,847 4, , , , ,769 8, ,620 2,600-2, ,774,799 28,828,466 28,276, , ,332 2,140,521 1,583, ,359 78,689 78,625 78,625 - (158,739) (344,290) 234, ,016 (78,689) (78,625) (78,625) (158,739) (344,290) 234, , , , ,290 $ - $ - - $ - $ - $ - 234,726 $ 234,726-3,404,651 $ - $ 3,639,377

24 STATEMENT OF NET POSITION - PROPRIETARY FUNDS June 30, 2014 June 30, 2002 Exhibit 6 Major Funds Enterprise Funds School Food Service Child Care Total ASSETS Current assets: Cash and cash equivalents $ 1,300,253 $ 39,260 $ 1,339,513 Due from other governments 45,800-45,800 Receivables (net) 9, ,170 Due from other fund 24,738-24,738 Inventories 79,807-79,807 Total current assets 1,459,698 39,330 1,499,028 Noncurrent assets: Capital assets, net 611, ,737 Total assets 2,071,435 39,330 2,110,765 LIABILITIES Current liabilities: Accounts payable and accrued liabilities 19,758 4,115 23,873 Compensated absences 31,258 19,368 50,626 Unavailable revenues 27,370-27,370 Total current liabilities 78,386 23, ,869 Noncurrent liabilities: Compensated absences 25,686 15,847 41,533 Total liabilities 104,072 39, ,402 NET POSITION Net investment in capital assets 611, ,737 Unrestricted 1,355,626-1,355,626 Total net position $ 1,967,363 $ - $ 1,967,363 The accompanying notes are an integral part of the financial statements. Page 18

25 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION - PROPRIETARY FUNDS For the For Year the Year Ended Ended June June 30, 30, Exhibit 7 Major Funds Enterprise Funds School Food Service Child Care Total OPERATING REVENUES Food sales $ 1,266,806 - $ 1,266,806 Child care fees - 478, ,749 Total operating revenues 1,266, ,749 1,745,555 OPERATING EXPENSES Purchase of food 1,034,346 38,191 1,072,537 Salaries and benefits 1,327, ,185 1,804,372 Indirect costs 239, ,583 Materials and supplies 123,408 20, ,691 Noncapital equipment 4,753-4,753 Utilities - 3,606 3,606 Repairs and maintenance 32,107-32,107 Depreciation 105, ,664 Other 4,292 10,162 14,454 Total operating expenses 2,871, ,427 3,420,767 Operating loss (1,604,534) (70,678) (1,675,212) NONOPERATING REVENUES Federal reimbursements 1,228,390-1,228,390 Federal commodities 169, ,286 State reimbursements 5,044-5,044 Interest earned 3,581-3,581 Indirect costs not paid 239, ,583 Total nonoperating revenues 1,645,884-1,645,884 Income (loss) before transfers 41,350 (70,678) (29,328) Transfer from other funds 78,625 70, ,303 Change in net position 119, ,975 Total net position - beginning 1,847,388-1,847,388 Total net position - ending $ 1,967,363 $ - $ 1,967,363 The accompanying notes are an integral part of the financial statements. Page 19

26 STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS For For the the Year Fiscal Ended Year Ended June June 30, , 2002 Exhibit 8 Major Funds Enterprise Funds School Food Service Child Care Total CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers $ 1,266,791 $ 478,739 $ 1,745,530 Cash paid for goods and services (964,472) (72,242) (1,036,714) Cash paid to employees for services (1,328,351) (484,388) (1,812,739) Net cash used by operating activities (1,026,032) (77,891) (1,103,923) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Federal reimbursements 1,206,672-1,206,672 State reimbursements 5,044-5,044 Transfer from other funds - 70,678 70,678 Net cash provided by noncapital financing activities 1,211,716 70,678 1,282,394 CASH FLOWS FROM INVESTING ACTIVITIES Due from other funds 26,327-26,327 Interest on investments and other 3,581-3,581 Net cash provided by noncapital financing activities 29,908-29,908 Net increase (decrease) in cash and cash equivalents 215,592 (7,213) 208,379 Balances-beginning of the year 1,084,661 46,473 1,131,134 Balances-end of the year $ 1,300,253 $ 39,260 $ 1,339,513 The accompanying notes are an integral part of the financial statements. Page 20

27 STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS For the Year Ended June 30, 2014 Exhibit 8 (Continued) Reconciliation of operating loss to net cash used by operating activities Operating loss $ (1,604,534) $ (70,678) $ (1,675,212) Adjustments to reconcile operating loss to net cash used by operating activities: Depreciation 105, ,664 Donated commodities consumed 169, ,286 Transfers from other funds 78,625-78,625 Indirect costs not paid 239, ,583 Changes in assets and liabilities: Increase in accounts receivable (2,377) (10) (2,387) Increase in inventory (13,477) - (13,477) Decrease in accounts payable and accrued liabilities (332) (18) (350) Increase in unavailable revenues 2,362-2,362 Decrease in compensated absences (832) (7,185) (8,017) Total adjustments 578,502 (7,213) 571,289 Net cash used by operating activities $ (1,026,032) $ (77,891) $ (1,103,923) * Noncash investing, capital, and financing activities: The State Public School Fund paid salaries and benefits of $78,625 to administrative personnel of the School Food Service Fund during the fiscal year. The payment is reflected as an operating transfer in and an operating expense on Exhibit 7. The General Fund transferred $70,678 to the Child Care Fund during the fiscal year. The payment is reflected as an operating transfer in on Exhibit 7. Indirect costs of $239,583 that would be due to the Other Special Revenue Fund were not paid. These unpaid costs are reflected as a nonoperating revenue and an operating expense on Exhibits 7 and D-1. The School Food Service Fund received donated commodities with a value of $169,286 during the fiscal year. The receipt of the commodities is recognized as a nonoperating revenue. The accompanying notes are an integral part of the financial statements. Page 21

28 STATEMENT OF FIDUCIARY NET POSITION - FIDUCIARY FUND For June the 30, Fiscal 2014 Year Ended June 30, 2002 Exhibit 9 Private Purpose Trust ASSETS Current assets: Cash and cash equivalents $ 410,431 NET POSITION Assets held in trust for private purpose $ 410,431 The accompanying notes are an integral part of the financial statements. Page 22

29 STATEMENT OF CHANGES IN FIDUCIARY NET POSITION - FIDUCIARY FUND or For the the Fiscal Year Year Ended June 30, 30, Exhibit 10 Private Purpose Trust ADDITIONS: Contributions and other revenues $ 2,310 DEDUCTIONS: Scholarships awarded 2,370 Change in net position (60) Beginning net position 410,491 Ending net position $ 410,431 The accompanying notes are an integral part of the financial statements. Page 23

30 NOTES TO THE FINANCIAL STATEMENTS For the Year Ended June 30, 2014 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of Mooresville Graded School District conform to generally accepted accounting principles as applicable to governments. The following is a summary of the more significant accounting policies: Reporting Entity The Mooresville Graded School District (Board) is a Local Education Agency empowered by State law [Chapter 115C of the North Carolina General Statutes] with the responsibility to oversee and control all activities related to public school education in Mooresville, North Carolina. The Board receives State, local, and federal government funding and must adhere to the legal requirements of each funding entity. Basis of Presentation Government-wide Statements: The statement of net position and the statement of activities display information about the Board. These statements include the financial activities of the overall government, except for fiduciary activities. Eliminations have been made to minimize the effect of internal activities upon revenues and expenses. These statements distinguish between the governmental and business-type activities of the Board. Governmental activities generally are financed through intergovernmental revenues, and other non-exchange transactions. Business-type activities are financed in whole or in part by fees charged to external parties. The statement of activities presents a comparison between direct expenses and program revenues for the different business-type activities of the Board and for each function of the Board s governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expense allocations that have been made in the funds have been reversed for the statement of activities. Program revenues include (a) fees and charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues are presented as general revenues. Fund Financial Statements: The fund financial statements provide information about the Board s funds, including its fiduciary fund. Separate statements for each fund category governmental, proprietary, and fiduciary are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. The fiduciary fund is presented separately. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from nonexchange transactions or ancillary activities. All expenses are considered to be operating expenses. Page 24

31 NOTES TO THE FINANCIAL STATEMENTS For the Year Ended June 30, 2014 The Board reports the following major governmental funds: General Fund. The General Fund is the general operating fund of the Board. The General Fund accounts for all financial resources except those that are accounted for in another fund. State Public School Fund. The State Public School Fund includes appropriations from the Department of Public Instruction for the current operating expenditures of the public school system. Individual Schools Fund. The Individual Schools Fund includes revenues and expenditures of the activity funds of the individual schools. The primary revenue sources include funds held on the behalf of various clubs and organizations, receipts from athletic events, and proceeds from various fund raising activities. The primary expenditures are for athletic teams, club programs, activity buses, and instructional needs. Capital Outlay Fund. The Capital Outlay Fund accounts for financial resources to be used for the acquisition and construction of major capital facilities (other than those financed by proprietary funds and trust funds). It is mandated by State law [G.S.115C-426]. Capital projects are funded by Iredell County appropriations, restricted sales tax moneys, proceeds of Iredell County bonds issued for public school construction, as well as certain State assistance. Other Special Revenue Fund. The Other Special Revenue Fund is used to account for certain grants, reimbursements, indirect costs and other financial resources received by the Board. The Board reports the following major enterprise funds: School Food Service Fund. The School Food Service Fund is used to account for the food service program within the school system. Child Care Fund. The Child Care Fund is used to account for the before and after school care program operated by the school system. The Board reports the following fiduciary fund: Administrative Fund: The Administrative Fund is used to account for scholarship money under the control of the board for the benefit of students in the district. Measurement Focus and Basis of Accounting Government-wide, Proprietary, and Fiduciary Fund Financial Statements. The government-wide, proprietary, and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Non-exchange transactions, in which the Board gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Page 25

Publication No. 140 Revised July 2015. Sample Financial Statements. for a Charter School. in North Carolina

Publication No. 140 Revised July 2015. Sample Financial Statements. for a Charter School. in North Carolina Publication No. 140 Revised July 2015 Sample Financial Statements for a Charter School in North Carolina State and Local Government Finance Division North Carolina Department of State Treasurer 35-H-1

More information

AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT. DuBois, Pennsylvania A.U.N. 1-06-17-200-3. For The Year Ended June 30, 2013

AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT. DuBois, Pennsylvania A.U.N. 1-06-17-200-3. For The Year Ended June 30, 2013 AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT DuBois, Pennsylvania A.U.N. 1-06-17-200-3 For The Year Ended June 30, 2013-1 - TABLE OF CONTENTS Page Number Independent Auditor's Report 4 Management's Discussion

More information

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a private CPA firm. The document was placed on this web

More information

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a private CPA firm. The document was placed on this web

More information

CITY OF ARCADIA, FLORIDA ANNUAL FINANCIAL REPORT. For the Fiscal Year Ended September 30, 2015

CITY OF ARCADIA, FLORIDA ANNUAL FINANCIAL REPORT. For the Fiscal Year Ended September 30, 2015 ANNUAL FINANCIAL REPORT For the Fiscal Year Ended September 30, 2015 ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 TABLE OF CONTENTS Page INDEPENDENT AUDITOR'S REPORT... 1 MANAGEMENT'S

More information

TOWN OF HARRISBURG NORTH CAROLINA TABLE OF CONTENTS June 30, 2006. Independent Auditor's Report 1-2. Management s Discussion and Analysis 3-12

TOWN OF HARRISBURG NORTH CAROLINA TABLE OF CONTENTS June 30, 2006. Independent Auditor's Report 1-2. Management s Discussion and Analysis 3-12 TOWN OF HARRISBURG NORTH CAROLINA TABLE OF CONTENTS June 30, 2006 Exhibit Page FINANCIAL SECTION: Independent Auditor's Report 1-2 Management s Discussion and Analysis 3-12 Basis Financial Statements:

More information

CONNEAUT SCHOOL DISTRICT

CONNEAUT SCHOOL DISTRICT CONNEAUT SCHOOL DISTRICT FINANCIAL STATEMENTS, SUPPLEMENTARY INFORMATION AND REPORTS CONFORMING TO THE SINGLE AUDIT ACT AMENDMENTS OF 1996 AND THE UNIFORM GUIDANCE YEAR ENDED JUNE 30, 2016 TABLE OF CONTENTS

More information

GREENUP COUNTY SCHOOL DISTRICT FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION

GREENUP COUNTY SCHOOL DISTRICT FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION TABLE OF CONTENTS Page Independent Auditors' Report 1 Management s Discussion and Analysis 4 Basic Financial Statements: Statement of Net Position 8 Statement

More information

CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014

CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014 CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014 Becky Roberts, CPA 104 Pine Street, Suite 610 Abilene, Texas 79601 325-665-5239 becky.roberts@rm-cpa.net

More information

SAN JUAN COUNTY (SILVERTON) SCHOOL DISTRICT NO. 1 SILVERTON, COLORADO. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT June 30, 2014

SAN JUAN COUNTY (SILVERTON) SCHOOL DISTRICT NO. 1 SILVERTON, COLORADO. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT June 30, 2014 SILVERTON, COLORADO FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT June 30, 2014 TABLE OF CONTENTS Independent Auditor s Report 2 Management s Discussion and Analysis 3-11 Basic Financial Statements:

More information

Warren Consolidated Schools. Financial Report with Supplemental Information June 30, 2014

Warren Consolidated Schools. Financial Report with Supplemental Information June 30, 2014 Financial Report with Supplemental Information Contents Independent Auditor's Report 1-3 Management's Discussion and Analysis 4-12 Basic Financial Statements Government-wide Financial Statements: Statement

More information

Board of Cooperative Educational Services of Nassau County. Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015

Board of Cooperative Educational Services of Nassau County. Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015 Board of Cooperative Educational Services of Nassau County Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015 CONTENTS INDEPENDENT AUDITOR S REPORT.. 1-3 REQUIRED SUPPLEMENTARY

More information

ASPIRE CHARTER ACADEMY, INC. A Charter School and Component Unit of the District School Board of Orange County, Florida

ASPIRE CHARTER ACADEMY, INC. A Charter School and Component Unit of the District School Board of Orange County, Florida Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors on Basic Financial Statements and Supplementary

More information

CITY OF JASPER Jasper, Alabama. Financial Statements and Supplemental Information. September 30, 2015

CITY OF JASPER Jasper, Alabama. Financial Statements and Supplemental Information. September 30, 2015 CITY OF JASPER Jasper, Alabama Financial Statements and Supplemental Information Table of Contents Page(s) INDEPENDENT AUDITORS' REPORT 1 3 MANAGEMENT'S DISCUSSION AND ANALYSIS 4 11 BASIC FINANCIAL STATEMENTS

More information

LAKE WALES CHARTER SCHOOLS, INC.

LAKE WALES CHARTER SCHOOLS, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE DISTRICT SCHOOL BOARD OF POLK COUNTY, FLORIDA FINANCIAL STATEMENTS WITH INDEPENDENT AUDITOR S REPORTS THEREON JUNE 30, 2015 CONTENTS Page Management s Discussion

More information

EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT

EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT FOR THE YEAR ENDED JUNE 30, 2014 EASTLAND-FAIRFIELD CAREER AND TECHNICAL SCHOOLS FRANKLIN COUNTY TABLE OF CONTENTS TITLE PAGE

More information

EAST ST. LOUIS SCHOOL DISTRICT 189

EAST ST. LOUIS SCHOOL DISTRICT 189 EAST ST. LOUIS SCHOOL DISTRICT 189 FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED JUNE 30, 2014 AND INDEPENDENT AUDITORS' REPORT TABLE OF CONTENTS AS OF AND FOR THE YEAR ENDED JUNE 30, 2014 Page(s)

More information

Actual Nonmajor Special Revenue Funds --------------------------------------------------------- 34

Actual Nonmajor Special Revenue Funds --------------------------------------------------------- 34 CONTENTS: FLORIDA DEPARTMENT OF EDUCATION SUPERINTENDENT S ANNUAL FINANCIAL REPORT (ESE 145) DISTRICT SCHOOL BOARD OF SUMTER COUNTY For the Fiscal Year Ended June 30, 2015 Return completed form to: Florida

More information

DISCOVERY ACADEMY OF LAKE ALFRED, INC. A Charter School and Component Unit of the District School Board of Polk County, Florida

DISCOVERY ACADEMY OF LAKE ALFRED, INC. A Charter School and Component Unit of the District School Board of Polk County, Florida DISCOVERY ACADEMY OF LAKE ALFRED, INC. District School Board of Polk County, Florida Financial Statements with Independent Auditors Reports Thereon June 30, 2013 CONTENTS Page Management s Discussion and

More information

Keystone Central School District

Keystone Central School District Financial Statements and Supplementary Information Table of Contents Page Independent Auditors' Report Management's Discussion and Analysis 1 3 Basic Financial Statements Government-Wide Financial Statements

More information

TOWN OF MANCHESTER, MARYLAND. FINANCIAL STATEMENTS June 30, 2015

TOWN OF MANCHESTER, MARYLAND. FINANCIAL STATEMENTS June 30, 2015 FINANCIAL STATEMENTS TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT... 1 MANAGEMENT S DISCUSSION AND ANALYSIS... 3 FINANCIAL STATEMENTS... 13 Government wide Financial Statements Statement of Net Position...14

More information

LAKE WALES CHARTER SCHOOLS, INC.

LAKE WALES CHARTER SCHOOLS, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE DISTRICT SCHOOL BOARD OF POLK COUNTY, FLORIDA FINANCIAL STATEMENTS WITH INDEPENDENT AUDITOR S REPORTS THEREON JUNE 30, 2016 CONTENTS Page Management s Discussion

More information

REPORT NO. 2012-156 MARCH 2012 GILCHRIST COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit

REPORT NO. 2012-156 MARCH 2012 GILCHRIST COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit REPORT NO. 2012-156 MARCH 2012 Financial, Operational, and Federal Single Audit For the Fiscal Year Ended June 30, 2011 BOARD MEMBERS AND SUPERINTENDENT Board members and the Superintendent who served

More information

City of Villa Rica. The Mill Amphitheater in Villa Rica, GA Photo Credit: Michael Valentine

City of Villa Rica. The Mill Amphitheater in Villa Rica, GA Photo Credit: Michael Valentine City of Villa Rica The Mill Amphitheater in Villa Rica, GA Photo Credit: Michael Valentine CITY OF VILLA RICA, GEORGIA ANNUAL FINANCIAL REPORT For the Year Ended December 31, 2015 CITY OF VILLA RICA, GEORGIA

More information

Regional School Unit No. 26. ANNUAL FINANCIAL STATEMENTS (with required and other supplementary information) For the Year Ended June 30, 2015

Regional School Unit No. 26. ANNUAL FINANCIAL STATEMENTS (with required and other supplementary information) For the Year Ended June 30, 2015 ANNUAL FINANCIAL STATEMENTS (with required and other supplementary information) For the Year Ended CONTENTS Statement Page Independent Auditor s Report 4-5 Required Supplementary Information Management

More information

ROBINSON INDEPENDENT SCHOOL DISTRICT ANNUAL FINANCIAL REPORT

ROBINSON INDEPENDENT SCHOOL DISTRICT ANNUAL FINANCIAL REPORT ROBINSON INDEPENDENT SCHOOL DISTRICT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED AUGUST 31, 2013 This page intentionally left blank ROBINSON INDEPENDENT SCHOOL DISTRICT ANNUAL FINANCIAL REPORT FOR THE YEAR

More information

Wilkinsburg Borough School District

Wilkinsburg Borough School District Wilkinsburg Borough School District Single Audit June 30, 2016 TABLE OF CONTENTS Independent Auditor's Report Management s Discussion and Analysis i Financial Statements: Government-Wide Financial Statements:

More information

CITY OF LINDEN Genesee County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2015

CITY OF LINDEN Genesee County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2015 Genesee County, Michigan AUDITED FINANCIAL REPORT For the Fiscal Year Ended June 30, 2015 F I N A N C I A L S E C T I O N For the Year Ended June 30, 2015 Table of Contents INTRODUCTORY SECTION Table

More information

INTERMEDIATE DISTRICT NO. 287 PLYMOUTH, MINNESOTA. Financial Statements and Supplemental Information. Year Ended June 30, 2014

INTERMEDIATE DISTRICT NO. 287 PLYMOUTH, MINNESOTA. Financial Statements and Supplemental Information. Year Ended June 30, 2014 INTERMEDIATE DISTRICT NO. 287 PLYMOUTH, MINNESOTA Financial Statements and Supplemental Information Year Ended June 30, 2014 THIS PAGE INTENTIONALLY LEFT BLANK INTERMEDIATE DISTRICT NO. 287 Table of Contents

More information

Oakland Unified School District. Annual Financial Report

Oakland Unified School District. Annual Financial Report Oakland Unified School District Annual Financial Report June 30, 2015 TABLE OF CONTENTS JUNE 30, 2015 FINANCIAL SECTION Independent Auditor's Report 2 Management's Discussion and Analysis 5 Basic Financial

More information

PLYMOUTH TOWNSHIP, PENNSYLVANIA FINANCIAL STATEMENTS. Year Ended December 31, 2015

PLYMOUTH TOWNSHIP, PENNSYLVANIA FINANCIAL STATEMENTS. Year Ended December 31, 2015 PLYMOUTH TOWNSHIP, PENNSYLVANIA FINANCIAL STATEMENTS Year Ended December 31, 2015 TABLE OF CONTENTS Page Number 1 2 Table of Contents 3 5 Independent Auditor s Report Required Supplementary Information

More information

A vonworth School District Financial Statements June 30, 2016

A vonworth School District Financial Statements June 30, 2016 Financial Statements Table of Contents Exhibit Page No. FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis 1-2 3-16 Basic Financial Statements Government-Wide Financial

More information

REPORT NO. 2010-153 MARCH 2010 ST. JOHNS COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit

REPORT NO. 2010-153 MARCH 2010 ST. JOHNS COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit REPORT NO. 2010-153 MARCH 2010 Financial, Operational, and Federal Single Audit For the Fiscal Year Ended June 30, 2009 BOARD MEMBERS AND SUPERINTENDENT St. Johns County District School Board members and

More information

Financial, Operational, and Federal Single Audit LIBERTY COUNTY DISTRICT SCHOOL BOARD. For the Fiscal Year Ended June 30, 2015

Financial, Operational, and Federal Single Audit LIBERTY COUNTY DISTRICT SCHOOL BOARD. For the Fiscal Year Ended June 30, 2015 March 2016 Financial, Operational, and Federal Single Audit LIBERTY COUNTY DISTRICT SCHOOL BOARD For the Fiscal Year Ended June 30, 2015 Sherrill F. Norman, CPA Auditor General Board Members and Superintendent

More information

CITY OF THE VILLAGE OF CLARKSTON Oakland County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2015

CITY OF THE VILLAGE OF CLARKSTON Oakland County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2015 Oakland County, Michigan AUDITED FINANCIAL REPORT For the Fiscal Year Ended June 30, 2015 For the Year Ended June 30, 2015 Table of Contents INTRODUCTORY SECTION Table of Contents FINANCIAL SECTION Page

More information

MARCO ISLAND ACADEMY, A PUBLIC CHARTER HIGH SCHOOL, INC. A Charter School and Component Unit of the District School Board of Collier County, Florida

MARCO ISLAND ACADEMY, A PUBLIC CHARTER HIGH SCHOOL, INC. A Charter School and Component Unit of the District School Board of Collier County, Florida Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors on Basic Financial Statements and Supplementary

More information

STACEY E. PICKERING STATE AUDITOR

STACEY E. PICKERING STATE AUDITOR , MISSISSIPPI Audited Financial Statements and Special Reports For the Year Ended September 30, 2013 STACEY E. PICKERING STATE AUDITOR Tommy Story, CPA, CFE Director, County Audit Section A Report from

More information

BRANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014

BRANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 BRANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 BRANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA

More information

Borough of Baldwin. Primary Government Financial Statements and Required Supplementary Information

Borough of Baldwin. Primary Government Financial Statements and Required Supplementary Information Borough of Baldwin Primary Government Financial Statements and Required Supplementary Information Year Ended December 31, 2015 with Independent Auditor s Report TABLE OF CONTENTS Independent Auditor's

More information

LANDMARK ACADEMY AT REUNION

LANDMARK ACADEMY AT REUNION LANDMARK ACADEMY AT REUNION Financial Statements as of and for the Year Ended June 30, 2015, Required Supplemental Information for the Year Ended June 30, 2015, and Independent Auditor s Reports LANDMARK

More information

Board of Education of Collierville Schools. Audited Financial Statements

Board of Education of Collierville Schools. Audited Financial Statements Board of Education of Collierville Schools Audited Financial Statements For the Fiscal Year Ended June 30, 2015 Table of Contents INTRODUCTORY SECTION Board Officials... 1 Organization Chart... 2 FINANCIAL

More information

WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013

WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013 WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013 TABLE OF CONTENTS INDEPENDENT AUDITOR'S REPORT 1 MANAGEMENT S DISCUSSION

More information

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL LEARNING - WEST PALM BEACH CAMPUS, INC. Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors

More information

HERITAGE LANDING COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014

HERITAGE LANDING COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 HERITAGE LANDING COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 HERITAGE LANDING COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY,

More information

SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012

SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012 SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012 SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30,

More information

AUDITED FINANCIAL STATEMENTS. NEWBERRY COUNTY, SOUTH CAROLINA Newberry, South Carolina. June 30, 2016

AUDITED FINANCIAL STATEMENTS. NEWBERRY COUNTY, SOUTH CAROLINA Newberry, South Carolina. June 30, 2016 AUDITED FINANCIAL STATEMENTS Newberry, South Carolina June 30, 2016 1 CONTENTS Audited Financial Statements Independent Auditors Report... Page 4 5 Management s Discussion and Analysis... 7-18 Audited

More information

ST. CLOUD PREPARATORY ACADEMY, INC. Basic Financial Statements and Supplemental Information. For the year ended June 30, 2015

ST. CLOUD PREPARATORY ACADEMY, INC. Basic Financial Statements and Supplemental Information. For the year ended June 30, 2015 ST. CLOUD PREPARATORY ACADEMY, INC. Basic Financial Statements and Supplemental Information For the year ended June 30, 2015 TABLE OF CONTENTS INDEPENDENT AUDITORS REPORT 1-2 MANAGEMENT S DISCUSSION AND

More information

SANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014

SANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 SANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 SANDY CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA TABLE

More information

CITY OF DES MOINES, IOWA BALANCE SHEET GOVERNMENTAL FUNDS June 30, 2013

CITY OF DES MOINES, IOWA BALANCE SHEET GOVERNMENTAL FUNDS June 30, 2013 CITY OF DES MOINES, IOWA BALANCE SHEET GOVERNMENTAL FUNDS June 30, 2013 ASSETS DEBT TAX GENERAL SERVICE INCREMENT Cash and investments $ 13,823,153 $ 577,744 $ --- Taxes receivable 57,403,960 30,488,253

More information

LASALLE COUNTY EMERGENCY TELEPHONE SYSTEM BOARD OTTAWA, ILLINOIS

LASALLE COUNTY EMERGENCY TELEPHONE SYSTEM BOARD OTTAWA, ILLINOIS OTTAWA, ILLINOIS Financial Report CONTENTS Page Number Independent Auditor's Report Management's Discussion and Analysis (Unaudited) Statement of Net Assets - Business-Type Activities Statement of Revenues,

More information

CITY OF THE VILLAGE OF CLARKSTON Oakland County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2016

CITY OF THE VILLAGE OF CLARKSTON Oakland County, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2016 Oakland County, Michigan AUDITED FINANCIAL REPORT For the Fiscal Year Ended June 30, 2016 For the Year Ended June 30, 2016 Table of Contents INTRODUCTORY SECTION Table of Contents FINANCIAL SECTION Page

More information

FLORIDA INTERNATIONAL ELEMENTARY ACADEMY

FLORIDA INTERNATIONAL ELEMENTARY ACADEMY FLORIDA INTERNATIONAL ELEMENTARY ACADEMY (A COMPONENT UNIT OF THE PUBLIC SCHOOL BOARD OF MIAMI-DADE COUNTY, FLORIDA) BASIC FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION BASIC FINANCIAL STATEMENTS AND

More information

TOWNSHIP OF ROLLAND ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS. Fiscal Year Ended March 31, 2010

TOWNSHIP OF ROLLAND ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS. Fiscal Year Ended March 31, 2010 ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS Fiscal Year Ended TABLE OF CONTENTS Independent Auditor s Report.. 1 FINANCIAL STATEMENTS Government Wide Statement of Net Assets. 2 Government Wide

More information

Lane County, Oregon Statement of Net Assets June 30, 2010. Governmental Activities. Business-type

Lane County, Oregon Statement of Net Assets June 30, 2010. Governmental Activities. Business-type Statement of Net Assets June 30, 2010 Governmental Activities Business-type Activities Assets Current assets Cash and cash equivalents $ 152,238,503 $ 32,077,526 $ 184,316,029 Investments - 3,748,272 3,748,272

More information

TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014

TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA

More information

JACKSON COUNTY, GEORGIA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED December 31, 2015 TABLE OF CONTENTS

JACKSON COUNTY, GEORGIA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED December 31, 2015 TABLE OF CONTENTS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED TABLE OF CONTENTS INTRODUCTORY SECTION Letter of Transmittal Certificate of Achievement for Excellence in Financial Reporting Organizational

More information

FORT MYERS PREPARATORY AND FITNESS ACADEMY, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE DISTRICT SCHOOL BOARD OF LEE COUNTY, FLORIDA

FORT MYERS PREPARATORY AND FITNESS ACADEMY, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE DISTRICT SCHOOL BOARD OF LEE COUNTY, FLORIDA THE DISTRICT SCHOOL BOARD OF LEE COUNTY, FLORIDA FINANCIAL STATEMENTS WITH INDEPENDENT AUDITOR S REPORTS THEREON JUNE 30, 2013 CONTENTS Page Management s Discussion and Analysis 1-7 Report of Independent

More information

Coosa County Board of Education

Coosa County Board of Education Report on the, Alabama October 1, 2014 through September 30, 2015 Filed: June 3, 2016 Department of Examiners of Public Accounts 50 North Ripley Street, Room 3201 P.O. Box 302251 Montgomery, Alabama 36130-2251

More information

FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT CITY OF GREEN COVE SPRINGS, FLORIDA SEPTEMBER 30, 2012

FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT CITY OF GREEN COVE SPRINGS, FLORIDA SEPTEMBER 30, 2012 FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT SEPTEMBER 30, 2012 FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT SEPTEMBER 30, 2012 TABLE CONTENTS Independent Auditors' Report... 1-2 Management

More information

LINCOLN-MARTI CHARTER SCHOOLS, INC. CHARTER HIGH SCHOOL OF THE AMERICAS. (A Component Unit of the School Board of Miami-Dade County)

LINCOLN-MARTI CHARTER SCHOOLS, INC. CHARTER HIGH SCHOOL OF THE AMERICAS. (A Component Unit of the School Board of Miami-Dade County) (A Component Unit of the School Board of Miami-Dade County) FISCAL YEARS ENDED JUNE 30, 2015 AND JUNE 30, 2014 FISCAL YEARS ENDED JUNE 30, 2015 AND 2014 TABLE OF CONTENTS PAGE(S) Independent Auditors'

More information

LE SUEUR COUNTY Le Center, Minnesota

LE SUEUR COUNTY Le Center, Minnesota Le Center, Minnesota FINANCIAL STATEMENTS Including Independent Auditors Report As of and for the Year Ended December 31, 2014 TABLE OF CONTENTS As of and for the Year Ended December 31, 2014 Independent

More information

Financial Statements June 30, 2014 University Schools

Financial Statements June 30, 2014 University Schools Financial Statements University Schools www.eidebailly.com Table of Contents Independent Auditor s Report... 1 Management s Discussion and Analysis... 3 Financial Statements Government-Wide Financial Statements

More information

CITY OF MILAN Washtenaw and Monroe Counties, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2014

CITY OF MILAN Washtenaw and Monroe Counties, Michigan AUDITED FINANCIAL REPORT. For the Fiscal Year Ended June 30, 2014 Washtenaw and Monroe Counties, Michigan AUDITED FINANCIAL REPORT For the Fiscal Year Ended June 30, 2014 For the Year Ended June 30, 2014 Table of Contents INTRODUCTORY SECTION Table of Contents FINANCIAL

More information

DELAWARE MILITARY ACADEMY CHARTER SCHOOL WILMINGTON, DELAWARE FINANCIAL STATEMENTS

DELAWARE MILITARY ACADEMY CHARTER SCHOOL WILMINGTON, DELAWARE FINANCIAL STATEMENTS DELAWARE MILITARY ACADEMY CHARTER SCHOOL (A Component Unit of the State of Delaware) WILMINGTON, DELAWARE FINANCIAL STATEMENTS JUNE 30, 2015 (A Component Unit of the State of Delaware) TABLE OF CONTENTS

More information

MINNEAPOLIS PUBLIC SCHOOLS SPECIAL DISTRICT NO. 1 Minneapolis, Minnesota AUDITED FINANCIAL STATEMENTS. For the Year Ended June 30, 2015

MINNEAPOLIS PUBLIC SCHOOLS SPECIAL DISTRICT NO. 1 Minneapolis, Minnesota AUDITED FINANCIAL STATEMENTS. For the Year Ended June 30, 2015 Minneapolis, Minnesota AUDITED FINANCIAL STATEMENTS For the Year Ended TABLE OF CONTENTS BOARD OF EDUCATION AND ADMINISTRATION... 1 INDEPENDENT AUDITOR S REPORT... 2 MANAGEMENT S DISCUSSION AND ANALYSIS...

More information

JACKSON-MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS.

JACKSON-MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS. COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS June 30, 2015 COMMUNITY ECONOMIC DEVELOPMENT COMMISSION TABLE OF CONTENTS June 30, 2015 Page Roster

More information

Publication No. 117-34 (Revised August 2015) Illustrative Financial Statements. for the City of Dogwood. in North Carolina

Publication No. 117-34 (Revised August 2015) Illustrative Financial Statements. for the City of Dogwood. in North Carolina Publication No. 117-34 (Revised August 2015) Illustrative Financial Statements for the City of Dogwood in North Carolina City Council Members Wilma Wolfpack, Mayor Patricia Pirate, Mayor Pro Tem Robert

More information

BOARD OF EDUCATION OF THE TOWNSHIP OF BERLIN SCHOOL DISTRICT BERLIN, NEW JERSEY

BOARD OF EDUCATION OF THE TOWNSHIP OF BERLIN SCHOOL DISTRICT BERLIN, NEW JERSEY BOARD OF EDUCATION OF THE TOWNSHIP OF BERLIN SCHOOL DISTRICT BERLIN, NEW JERSEY COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015 22550 Table of Contents INTRODUCTORY SECTION

More information

RUSSELL BYERS CHARTER SCHOOL FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2016

RUSSELL BYERS CHARTER SCHOOL FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2016 FINANCIAL STATEMENTS YEAR ENDED FOR THE YEAR ENDED TABLE OF CONTENTS Page INDEPENDENT AUDITOR'S REPORT 1-2 MANAGEMENT'S DISCUSSION AND ANALYSIS 3-6 BASIC FINANCIAL STATEMENTS Government-Wide Financial

More information

Hammock Bay Community Development District

Hammock Bay Community Development District Hammock Bay Community Development District FINANCIAL STATEMENTS September 30, 2015 Table of Contents September 30, 2015 REPORT Independent Auditors' Report 1 FINANCIAL STATEMENTS Management s Discussion

More information

ANTRIM COUNTY BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005

ANTRIM COUNTY BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005 BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005 TABLE OF CONTENTS Independent Auditor s Report 1-2 Management s Discussion and Analysis 3-8 Basic Financial Statements Government-Wide Financial Statements

More information

DESOTO COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit. For the Fiscal Year Ended June 30, 2012

DESOTO COUNTY DISTRICT SCHOOL BOARD. Financial, Operational, and Federal Single Audit. For the Fiscal Year Ended June 30, 2012 REPORT NO. 2013-158 MARCH 2013 Financial, Operational, and Federal Single Audit For the Fiscal Year Ended June 30, 2012 Real Version BOARD MEMBERS AND SUPERINTENDENT Board members and the Superintendent

More information

City of Romulus, Michigan. Financial Report with Supplemental Information June 30, 2016

City of Romulus, Michigan. Financial Report with Supplemental Information June 30, 2016 Financial Report with Supplemental Information Contents Report Letter 1-3 Management's Discussion and Analysis 4-11 Basic Financial Statements Government-wide Financial Statements: Statement of Net Position

More information

INDEPENDENCE ACADEMY FINANCIAL STATEMENTS. June 30, 2016

INDEPENDENCE ACADEMY FINANCIAL STATEMENTS. June 30, 2016 FINANCIAL STATEMENTS TABLE OF CONTENTS FINANCIAL SECTION PAGE Independent Auditors Report Management's Discussion and Analysis i vi Basic Financial Statements Statement of Net Position 1 Statement of Activities

More information

BONNET CREEK RESORT COMMUNITY DEVELOPMENT DISTRICT ORANGE COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013

BONNET CREEK RESORT COMMUNITY DEVELOPMENT DISTRICT ORANGE COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013 BONNET CREEK RESORT COMMUNITY DEVELOPMENT DISTRICT ORANGE COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013 BONNET CREEK RESORT COMMUNITY DEVELOPMENT DISTRICT ORANGE COUNTY,

More information

Charlotte Public Schools Charlotte, Michigan FINANCIAL STATEMENTS. June 30, 2012

Charlotte Public Schools Charlotte, Michigan FINANCIAL STATEMENTS. June 30, 2012 Charlotte, Michigan FINANCIAL STATEMENTS Charlotte, Michigan BOARD OF EDUCATION Ron Schultheiss President Julie Kimmer Vice-President Robert Wilson Secretary Andrew Hazel Treasurer Mike Bruce Trustee Eric

More information

CITY OF SCOTTSDALE MUNICIPAL PROPERTY CORPORATION (A COMPONENT UNIT OF THE CITY OF SCOTTSDALE, ARIZONA) ANNUAL FINANCIAL REPORT

CITY OF SCOTTSDALE MUNICIPAL PROPERTY CORPORATION (A COMPONENT UNIT OF THE CITY OF SCOTTSDALE, ARIZONA) ANNUAL FINANCIAL REPORT CITY OF SCOTTSDALE MUNICIPAL PROPERTY CORPORATION (A COMPONENT UNIT OF THE CITY OF SCOTTSDALE, ARIZONA) ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2015 CITY OF SCOTTSDALE MUNICIPAL PROPERTY CORPORATION

More information

Charter Township of Fenton. Financial Report with Supplemental Information December 31, 2013

Charter Township of Fenton. Financial Report with Supplemental Information December 31, 2013 Financial Report with Supplemental Information December 31, 2013 Contents Report Letter 1-2 Management's Discussion and Analysis 3-7 Basic Financial Statements Government-wide Financial Statements: Statement

More information

COUNTY OF HILLSBOROUGH, NEW HAMPSHIRE Financial Statements June 30, 2012 and Independent Auditor's Report

COUNTY OF HILLSBOROUGH, NEW HAMPSHIRE Financial Statements June 30, 2012 and Independent Auditor's Report COUNTY OF HILLSBOROUGH, NEW HAMPSHIRE Financial Statements and Independent Auditor's Report COUNTY OF HILLSBOROUGH, NEW HAMPSHIRE FINANCIAL STATEMENTS TABLE OF CONTENTS INDEPENDENT AUDITOR'S REPORT MANAGEMENT'S

More information

Independent Auditor s Report and Financial Statements. Polson Public School District No. 23 Lake County Polson, Montana June 30, 2014

Independent Auditor s Report and Financial Statements. Polson Public School District No. 23 Lake County Polson, Montana June 30, 2014 Independent Auditor s Report and Financial Statements Polson Public School District No. 23 Lake County Polson, Montana June 30, 2014 TABLE OF CONTENTS POLSON PUBLIC SCHOOL DISTRICT NO. 23 June 30, 2014

More information

MONUMENT ACADEMY CHARTER SCHOOL Monument, Colorado. FINANCIAL STATEMENTS June 30, 2014

MONUMENT ACADEMY CHARTER SCHOOL Monument, Colorado. FINANCIAL STATEMENTS June 30, 2014 Monument, Colorado FINANCIAL STATEMENTS June 30, 2014 TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT... I MANAGEMENT S DISCUSSION AND ANALYSIS... III BASIC FINANCIAL STATEMENTS Government-wide Financial

More information

LINCOLN-MARTI CHARTER SCHOOLS, INC.

LINCOLN-MARTI CHARTER SCHOOLS, INC. (A COMPONENT UNIT OF THE SCHOOL BOARD OF MIAMI-DADE COUNTY) FOR THE FISCAL YEARS ENDED JUNE 30, 2013 AND 2012 TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT 1-3 MANAGEMENT S DISCUSSION AND ANALYSIS

More information

CHICO PUBLIC FINANCING AUTHORITY. Chico, California. Component Unit Financial Report

CHICO PUBLIC FINANCING AUTHORITY. Chico, California. Component Unit Financial Report Chico, California Component Unit Financial Report Independent Auditors' Report, Financial Statements and Required Supplementary Information Table of Contents Page(s) Independent Auditors' Report... 1 Management

More information

RIVERS EDGE COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015

RIVERS EDGE COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 RIVERS EDGE COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 RIVERS EDGE COMMUNITY DEVELOPMENT DISTRICT ST. JOHNS COUNTY, FLORIDA TABLE

More information

JACKSON MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS

JACKSON MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS JACKSON MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT COMMISSION (Jackson Convention & Visitors Bureau) FINANCIAL STATEMENTS FOR THE YEAR ENDED June 30, 2014 JACKSON MADISON COUNTY COMMUNITY ECONOMIC DEVELOPMENT

More information

Macon County Board of Education

Macon County Board of Education Report on the Board of Education, Alabama October 1, 2012 through September 30, 2013 Filed: September 12, 2014 Department of Examiners of Public Accounts 50 North Ripley Street, Room 3201 P.O. Box 302251

More information

STACEY E. PICKERING STATE AUDITOR

STACEY E. PICKERING STATE AUDITOR , MISSISSIPPI Audited Financial Statements and Special Reports For the Year Ended September 30, 2013 STACEY E. PICKERING STATE AUDITOR William R. Doss, CPA Director, Financial and Compliance Audit Division

More information

VAL VERDE UNIFIED SCHOOL DISTRICT ANNUAL FINANCIAL REPORT JUNE 30, 2014

VAL VERDE UNIFIED SCHOOL DISTRICT ANNUAL FINANCIAL REPORT JUNE 30, 2014 VAL VERDE UNIFIED SCHOOL DISTRICT ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FINANCIAL SECTION Independent Auditor's Report 2 Management's Discussion and Analysis 5 Basic Financial Statements Government-Wide

More information

VILLA VIZCAYA COMMUNITY DEVELOPMENT DISTRICT PORT ST. LUCIE, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013

VILLA VIZCAYA COMMUNITY DEVELOPMENT DISTRICT PORT ST. LUCIE, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013 VILLA VIZCAYA COMMUNITY DEVELOPMENT DISTRICT PORT ST. LUCIE, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013 VILLA VIZCAYA COMMUNITY DEVELOPMENT DISTRICT PORT ST. LUCIE, FLORIDA TABLE

More information

Macon County Board of Education

Macon County Board of Education Report on the Board of Education, Alabama October 1, 2013 through September 30, 2014 Filed: June 12, 2015 Department of Examiners of Public Accounts 50 North Ripley Street, Room 3201 P.O. Box 302251 Montgomery,

More information

LAKEWOOD RANCH STEWARDSHIP DISTRICT AUDITED FINANCIAL STATEMENTS. FOR THE FISCAL YEAR ENDED September 30, 2013

LAKEWOOD RANCH STEWARDSHIP DISTRICT AUDITED FINANCIAL STATEMENTS. FOR THE FISCAL YEAR ENDED September 30, 2013 AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED September 30, 2013 FOR THE FISCAL YEAR ENDED September 30, 2013 TABLE OF CONTENTS PAGE INDEPENDENT AUDITOR S REPORT 1 2 MANAGEMENT S DISCUSSION AND

More information

Intermediate Governmental Accounting. Florida Government Finance Officers Association School of Governmental Finance November 3, 2015

Intermediate Governmental Accounting. Florida Government Finance Officers Association School of Governmental Finance November 3, 2015 Intermediate Governmental Accounting Florida Government Finance Officers Association School of Governmental Finance November 3, 2015 Presenters Justin Stankiewicz Financial Management & Budget Analyst

More information

BOYNTON VILLAGE COMMUNITY DEVELOPMENT DISTRICT

BOYNTON VILLAGE COMMUNITY DEVELOPMENT DISTRICT BOYNTON VILLAGE COMMUNITY DEVELOPMENT DISTRICT BASIC FINANCIAL STATEMENTS BASIC FINANCIAL STATEMENTS TABLE OF CONTENTS PAGES BASIC FINANCIAL STATEMENTS Independent Auditors' Report 1-2 Management's Discussion

More information

Lawrence County Board of Education

Lawrence County Board of Education Report on the Board of Education, Alabama October 1, 2014 through September 30, 2015 Filed: June 17, 2016 Department of Examiners of Public Accounts 50 North Ripley Street, Room 3201 P.O. Box 302251 Montgomery,

More information

Financial Statements September 30, 2014 Capital City Development Corporation

Financial Statements September 30, 2014 Capital City Development Corporation Financial Statements September 30, 2014 Capital City Development Corporation www.eidebailly.com Table of Contents INDEPENDENT AUDITOR S REPORT 1 MANAGEMENT'S DISCUSSION AND ANALYSIS 3 BASIC FINANCIAL STATEMENTS

More information

MONTECITO COMMUNITY DEVELOPMENT DISTRICT SATELLITE BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015

MONTECITO COMMUNITY DEVELOPMENT DISTRICT SATELLITE BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 MONTECITO COMMUNITY DEVELOPMENT DISTRICT SATELLITE BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 MONTECITO COMMUNITY DEVELOPMENT DISTRICT SATELLITE BEACH, FLORIDA TABLE OF

More information

CITY OF CL AR KS VILL E, TENNESSEE JUN E 3 0, A N D 20 15

CITY OF CL AR KS VILL E, TENNESSEE JUN E 3 0, A N D 20 15 CITY OF CL AR KS VILL E, TENNESSEE GA S, WA T E R A N D SE W E R DEP A R T M EN TS AUD I T ED F IN A N C IA L S T A T E M E N T S A N D O T HE R IN F O R M A T IO N JUN E 3 0, 20 16 A N D 20 15 CITY OF

More information

CLEVELAND COMMUNITY COLLEGE (A Component Unit of the State of North

CLEVELAND COMMUNITY COLLEGE (A Component Unit of the State of North (A Component Unit of the State of North Carolina) FINANCIAL STATEMENTS As of and for the Year Ended June 30, 2014 And Report of Independent Auditor TABLE OF CONTENTS REPORT OF INDEPENDENT AUDITOR... 1

More information

Florida High School For Accelerated Learning Hillsborough County Campus, Inc.

Florida High School For Accelerated Learning Hillsborough County Campus, Inc. Florida High School For Accelerated Learning Hillsborough County Campus, Inc. d/b/a (A Component Unit of the School Board of Hillsborough County, Florida) Basic Financial Statements and Additional Information

More information

CITY PLACE COMMUNITY DEVELOPMENT DISTRICT CITY OF WEST PALM BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015

CITY PLACE COMMUNITY DEVELOPMENT DISTRICT CITY OF WEST PALM BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 CITY PLACE COMMUNITY DEVELOPMENT DISTRICT CITY OF WEST PALM BEACH, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 CITY PLACE COMMUNITY DEVELOPMENT DISTRICT CITY OF WEST PALM BEACH,

More information