HomeMy WebLinkAbout96-06408
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q/., u/nJ) _'11111 '-I':'''~J1
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(}~o. <Ir('/'lflll/lllll .~ (CJIlfPIIIIU, I~(~
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Proprl.cary
fund TvoI, 'ldul!l.~y Fund Typ.. Aaooupt OrDup.
rood Truat and l'1.n.nl O.nual
lIarv~a. A'lnllY Ar.tlvltll" J'lud Auata Lon,. T. rra nib t
~ 92,345 ~ 28,959 ~ 1.3,381. ~ ~
2,558
17,642
14,181
325,856
20,717,610
2,269,1.80
21.,844
1/..256.703
~ 149.012 0 31.517 0 1.3. ~8" 0 23.312.9/.6 0 11,.256.703
~ ~ 0 0 0
73,035 13,875
9,098
17,642
1.3,381.
13,777,247
1.79.1.56
82.133 31.517 1.3.384 .0:. 1/.. 256.703
23,312,91.6
24,844
42.1'135
66.879 .0.. ..0. 23.312.91.6 .0.
0 149.012 0 31.517 0 1.3.384 $ 23.312.946 0 14.256.703
L\BT 1'~NNIlIlOI\O ARJ{.^ BCItOO!. IlllITlllCl'
COKlIlliltD Bl'ATEHI!N'f 01" I\lWENU~, I!Xl'IlNDn'UI\l!B AND
OIWllll!S IN FIlND IlALANC~B . I\U UO 111' ANn ACTUAl.
OI!N1U\AI. ANll Bl'llCIAI, 1\l!VllNUl': I"UNllB
Vl!AIl l!NIl~ll JUNll 30, 1')96
Cllnanl Fund
Vllrl.lna,
V,voreble
l1.II.IlJr.li Aatual lUnfllvDrabla )
Ravlnua and othar tlnllnDlng louraea
Loaal loura.. 0 12,301,089 0 12,,,,.8,536 0 1I,7,M.7
Btata lourau 5,51.7,271. 5,1.73,906 (73,3611)
Fadarll lourau 108.387 1/.8.1.39 IjO.05~
'l'ocal ravanuo and athor
flnllnalng sourcol lZ...llUlU 18.070.081 llId 3l
I!llpendltures Ilnd other fLnllnc lng UICl
InlnUlltlon
RegulAr progrnms 9,1.88,715 9,1.63,727 21, ,988
Bpaclal progrnms 1,5118,801 1,516,190 32,691
Voantlonnl educotlon progrlllns 281.,123 281.,123
Other lnl1truct lonl1 I progrn.u 40,120 39,768 352
Adult educotlon progroml 8,775 8,351 1,21.
COlDl1lunlty CaUego educlltlon
progr/llnB 261. 590 261.581 9
Totol In.tructlon II. 632.201. lL.J 7 3. 711 0 58 ,1.611
Support lorvlce.
I'upll pernonnol 533,927 533,676 251
In.cructlonlll atnff 479,717 ,.78, '/99 918
AdI1Ilnlatrlltlon 1 , 318 , 9",. 1,309,265 9,679
Pupll health 231,973 230,330 1,643
Iludneu 153,682 153,523 159
Operatlon and IDdntennnae af
plBnt .orvloo. 1,5",.,855 1,526,1.22 18,433
Student trllnlpartotlan I.rvloe. 536,365 536,071. 291
Central 29,698 27,125 2,573
Other support aervluel 1.6.509 _,.5.976 533
Totol lupport lervloea 1..875.670 ~ 311.1.80
(Oontlnued)
.. I. It
Ip.lllal lavanu. fund
Varlance
Vavarabh
lud...t AL'!tual lUnfavorab18 )
0 29,500 0 27,521 0 (l,1l79)
2~L ~oo
27.521
ll,979)
.0..
..0..
..0..
.0..
.0..
.0.
UST PI!IiNBllOltO ARIlA SCHOOL DIIITllICT
CO~IIi!D STATI!HI!NT OF R!V!NUE, EXI'I!NSI!S AND
CHANOIS IN RETAINED URNINOS
ALl. PROPRIETARY FIlND TYPES
YUR I!NDI!D JUNI! 30, 1996
Total aperatlng expenle.
Faad
S8rvlcIt
0 366.732
-..Jb.6.....ill
,.82,076
36,166
t,791
'.. 018
52'.. 851
1158.U9)
2,227
1l,671.
101,611
36.166
151.71.0
(6,379)
15.661
9,282
57.591
0 66.B7'J
Op.r.tlng ravlnue
Loaal .oure.. . toad lervlee revenue
Totel uperetlng ravenue
Oparatlng expan.e.
PaYllel\tl ta food urvlee canttaetar
Daneted aOllmodltlel ean.umed
SuppUea
Deprne lat lan
Operatlng lneolDe (Iou.)
Nanoperatlng revenue (ellpenlal)
F.ernlnga an lnveatllanta
IItate eourc..
Federal aouree8
Federal aoureaa . donated eommodltle8
Total nanoperetlng revenue (ellpenloa)
Ineolle (loaa) before tranafera
Fund tuna fen
Nonaelh contrlbutlona frail Goneral Fund
Net lneolle
Retalned earnlnga, July 1, 1995
Retelned enrnlngl, June 30, 1996
The aaeollpenylng not.. ere nn lntegral part of thele flnlnclal Itatementa,
. 6 .
lAST ~IlHN8lI01\0 N\U SClloOI. DIIITI\10T
COHllllilll) ST^TrHIlNT or CAllI! ....<1118
A~~ ~ROVRIIT^"Y .~ND TYVIll
YIAR IINDI!I> .JlJN!! 30, 11/9/1
.'01111
brvluu
cuh flaw. fral. ijl'UO t lng no t Lv 1 t l..
OpeutLng lncol.' (Lau)
^djll.tl.ent. to l:eaandl1 al'eratlng lnnal.e (lau)
tij net euh IlravLd.d by op.rntlng lutlvltlu
Delll:8e latLon
Danlt.d DOIDJDOdltLu aanaumld
Daal:8a18 (lner....) Ln
Inventory
Aeeaunt. r.celvobLo
InerelUe (dOCI:OIIIO) In
Aeeountl lloyohLo
. 058,11'1)
1',01"
111 ,I~~
(1IIlll)
(II., 'l~l)
~v. 301.
N..t elllh uead Ln al,erotlng aatLvltLu
a..h flawl from nQncaplt.l flnlnelng eatLvltle.
lIubddl.... recel\led
Stlte
r.dual
Fund trnnl fors
(13. HI.)
11., ~ /1.
IOl,6H
--1.1...6.6J.
Nut CBQh Ilrovldud by nananpltBl
flnoncLng act.lvltlol
12'.1 .000
Clah flowa fram Lnvoltlng ontlvltLel
I!arnlngl on lnvoltmlntl
I'eymlnt for purehuBI of ..qullllDent
?',Vl
-L.u~)
Net cOlh UI.d In lnve.tlng natlvltle.
Ill. 01,2)
Not Lncren.1 In eelh
"'.,1.~2
C.lh end equlvnl.ntl, July 1, 199~
1.7.893
Clah end equlval.nta, JUlia 30, 1996
o
92. 3'.~
The aeealllpenylng natu are an I.ntegrel part ot the.. flnanalaL Itatelll.nt.,
. 7 .
l!AS'f 1'l!NNSIIOllO AI\l!A BCHool. OlB'l'lllC1'
Nons 'fa fINANCIAl. STA'l'l'.Kl':NTS
JUN~ 30, 1')96
1. 1\lportlng entlty
I!Dlt l'lnn.horo Arne Schoal IHltrlct l. the lovol af goverl1mont whlch hili ov..rdght
rupanalbUlt.y .nd eantrlJl over aetLvLtlol rolatod ta puhHe .chaal oducatl.un.
1'I1e report lncludu I8rvlcel provldod by tho IHltrlct ta raddnnt. wLthln lto
baundarl..: the Cu,.berlnn,1 Caunty cUllllllunl t los of Eu t l'onn.lllll'a 'fown.hlp ond tho
Ilorough of WOlt l'nLrvlew. BervLce. ptovldod Includo n comprohenaLvo currl,;ulu/ll
for prllD/1I:Y ond I8condory oducntLan o. woll os opeelnl oducotlon ond '/oclltlonlll
educatlan IlragralDl, Tho IHltrlct recoLv81 revonuo frullI IIJcol, Itllto 0111.1 fodotlll
lallrau and lIust callply wlth tho rOII'jlromont. of tholo fundl.ng .ourcu,
erlterln ..tobH.hod In Govorl1lnontlll Accounting Btlll1llllnl. Iloord Stlltemont NlI/nbot
11. wern usod In detorIDlnLnp, the ontltlo. to Ito lncluded In tho roportLng entLty.
Th.... erltorla lncludo 1)lIIle ltoml .uch n. flnllndlll Lnterdopon,loncy, l..loctLon
af govorlllng outhorlty, dodgnot Ion of mBnogomont, abUl ty ta .lgnl. Bcont ly
lnnu..noo olloratlonl, occountabLHty for fl,clll IDlIttoro, ocopo of plJbHc lorvlco
and epedol flnnnclng roll1tlan.hlpl. All al'ototLon. of tho IHltrLet IIro Lncludell
In the ropartLng ontlty.
1'I1..re ora no comllonont unLtl thllt moot tho obovo crltorlo far Lnc1usl.on In thl..
nportlng entlty, Itowovor, tho IHsttLct L. II portLdpllnt In throe jolntly'
govorned op..rotlan., ooch of whLch II 0 ..porato Iog01 ontlty that offoro
eduentlanol lervle... ta tho Ulltrlct onll Ltl rosl.dontl, Eoeh ontlty 10rVOI
...veral lehool IIlltrlct., '0 tho followLI1K ontltlol 'II'" not lnclurlod In thLI
reportlng ..ntlty.
Clpltal Ama Intormodloto UnLt . ptavldoa Ipodol ollucatlon
lervlc... end progrllml,
Cw.berlond.I'erry AJ~OIl Vocntlonal.'l'edlllLcnl Behool . provld..
vaeotlonal and toehnlcol oducatlan servleos and programl.
Hnrrllburg Aroa COlDmunlty CoUogo . I'tovldu community college
edueatlon l..rvlc"l nnd program".
2. SUIDIIlary of d8nlfLcant accauntlng poHcL..
Thll aceaunclng rBeards af East l'enn.boro Area School Dlstrlet am mlllntlllned an
the b..h of aecountlng proctlc.. prescrLb..d or permltted by tho Hnnual of
Aeeountlng and R..l.ated f'lnandol ProeodlJros for Pennsylvnnla Sehoal Sy.t"IDS,
l8lued by the Pennsylvanla Departmont of l!ducatlon In noeordoneo with tho
provhlonl af the Schaol Lnw. af I'enn.ylvonla, Thuo prnetlcoa an In eonformlty
wlth generally leeepted account Lng prLndplu n. appHeobl.. to gaverllmantal unlts.
A lUIDIIlnry of the more .lgnlfleant accauntLng pollelos II nl follow.:
. 8 .
I!ASl' 1'l!NNSIIOI\O AI\I!A SCIl001. IllSTlllC'I'
NOTES TO fINANCIA!. STATEHEN1'S (Cllllt' ,I,)
JUNE 30, 1996
2. SUlIlIlOry of .lgnlUeent Iccountlng pollclu (Can,."d,)
Fund Iceauntlng
Th. 811eountlllg rocards of the Illstrlct orll 1I\'lIlnl".,I 1111 thu hull of fUlld tYI,es
end 8eeaunt graups, Elich fU1ll1 type IIny cllnlllt IIf IIvernl dlfflrant funds. Eoch
tund l. I eeparate entlty with anlf.bllanclnllllculIlIlIl" which cOII11r11l lta nalltl,
alblUtl..., fund halonco/rotolnlld enrnhlll", rUVOIIIIU" nllll ollpondlturOl/ellpunlol
.. Ipproprlata. The fund tYI'U IlId thu I"CCIIIIII 111'11111'11 lit 111~ed by hit l'ollnsbara
Arol School Dlstrlct ore ea fol1awl:
Gaverl1lllentel Fund TYJlll . Thaoe lira lhu '1111110 I.hl'lIl1l1h which moat
goverl1lllentnl functions ere flnonco,l. 'I'hu '11)011111111.11111, IIIU end
balancu of the Dlltrlct's ollplln"lIbl.u "1 nil 1111 1111 rllS')lIrl!Oll on" thll
reletlld lleblUtlu (ollclll,t thlloo Oil " 1111111 11.1 I'llI' In I'rlll'l'llltory fundal
are accounted far through gllvorlllnllnllll fIlIlC\O, 'I'hu 1P0111llramont focus
II upon detormlnotlon af chllnllol III flnlllldlll I'UIIIIIII'IlUI, rothor thnn
upan net lneol1e detormlllotlllll. 'I'hu IlIn.11I Ill' Ihu III II ll'ltl I. Inclu"od In
thls elltegory nro:
General Fund . The Oonernl t'uncl 10 1I0u.1 III ''':Clllunt far nil
Unenelel tranlOctlanl nat Iccllllnl.u,1 Inr III 1I11111.hur fllnd. Rovonuol
are prlmorlly dorlved from IlIcnl I'l'lIpul'ly, por cnpltn nnd
oeeupatlan tilles, and Stlltu 0\111 t'a,lorol .1I"tl'lbllllllnl, Hany of the
more lmpartent sctlvltlo" Ill' tho S"hlllll Illltrlct, lneludlng
lnltruetlon, ac!lDlnlltrlltllln Ill' thu S"'111111 Illlltrlct nnd eertnln
nonlnstruetlanol servlca" 01'0 "''':lIl1ntucl /oil' III thla fund.
Speelal Rev.nue t"und . Bl,ocllll II0vunllu 1'II1111s ""0 unod ta account
for the praco.ds af specltl,' l'ovonllo" I hilI. 111'0 rostrletod ta
ellpendltureo far spuc I flud 1"1\'1111""".
Capltal praJeotl t'lInd . Cllpltlll 1'1'11,"":1.1
for flnnnclnl rOlllurce. tll hu uI.d
eonatruetlon of copltol focllll.los,
I.'UIIIII 111'0 usod ta nccaunt
far tho ocqullltlon or
ProDdetarv Fund TVI101 . l'r"lll'lotllry t'lInd" occollnt far aperatlons
thet era Unanca,: ond IIparcll'a,\ III 1\ monnor 0 llPUar to prLvllte
bUllnoaa enterprLses:
Food Servloe t\II111 . 'I'hll t'clIlIl RorvlcIt t'und Ls u.ed ta oecount far
the Unandal t.r'"1"Oetlan" Olll/eLoted wIth the operotlona af the
oafeterlna .
. 9 .
un 1'l!NNBlI01\O ^'\~^ BCl\ool, nIS'I'I11C'f
1i0'l'l':S 1'0 I'INMiGIM. S'rA'l'l!.Mt:NTB (Collt' d,)
JUNI! 30, 11)1)6
2, BUlllllllry ot IlglILfLaent a~~aulltl.llg pulldoH (Cont'd,)
B..l. of leaauntlng (Cant'd,)
GOYerlllalntal FUlld 'l'yll..U..ll . Tholo fundH ore aeoauntod far ullllg e
"eunellt flnollollll rOHuurCOH" IDOOHlIl'OlDllnt facuI (n lnodLfl.d ooaruol
bells of IIccountlng),
Revonu.s Ire recordod wholl HUlcoptlble to accrunl (both moosurablo
ond ovallablo). AvaLlnblo moonl colloctod wlthLn tho cllrront porLod
or aoon enough thorollftor tu PIlY CUl'rollt llllblUtLel,
I!llpendlturoa are gonorlllly rocaglll7.od wholl tho rolotod fUlld 1l0blUty
II lncurrod. ~lleoptlon" ta thll gonorlll rulo ln~ludo prlnGlpol IInd
lntorut on generAl lallg.torm dobt whLch la rocagnlv.od whon duo,
DhburulDonta far Lllvl'lltary typo ltolnl ond propllhl O>lpenHBH nrn
canoldornd oxpondlturoll ot tho tLlno af purchnso,
PraDrletIlI.YJ:~lJld 1'YDU . Tho Food Borvlce Fund La nccountod for using
Il "flow af oeanalDlc rOKuurCOI" 1D0nouromont facua (II full nccrulIl
Inethod of IIccount Lllg).
Donllted cOllunodltloH lire LnvontorLod nt nil oatLllllltod coat vnluo when
raeelvod. InvontorLo8 (voll1od all tho flrat..Ln, fLrlt.out Inothod)
ero reeordod n. IIn oOllot, and tho port Lan ropro80ntod hy dOllatod
ealluDadltlos lo rocordod 118 doforrod rovonuo.
Food lervLco oljlllplllont III copltoll7.od, wLth dopraelotlon (ealnputod
an tho 8craf.ght.llno lDothad ullng on oatLlnotod usuful Ufo of 12
yenrs) rocordod liS on oporotlllg o>lpenso, Tho oquLJllnont (not of
aecUJ1luloted doprocLllt Lon) ls Offeot by 0 rosorvod port Lon of rotoLnsd
aornlngo,
WysJary Funll TYDU (Trust ond AII,oncy Fundal . Thoao funds ore
euatodLol Ln nllturo (nllots oquol If.nbllltles), nnd do not lnvolve
meosurOlllollt of reaulta of aporntLons, end lIttll20 tho InodLfLod occruol
bnlls af nccauntlng,
AeeDunt Groupli. . Lond, buUdLngs IInd equlplnont ore roeardod at
hlatorlcal coat or ot elltlmotod hlatorlr.ol cost If actual hlstorlcal
eaat La nat avoUnblo. PeprocLotlon ls not computed on gonorol fL>lad
eueta,
Long. torm dobt la offlOt. by on amount ta bo pravldod by future
taxlltlon or other rovanuo saurcea. lIandl pnyob 10 In future yeara
ere rncorded BB OLotrlet dobt, lntoreat on bondl la recorded when
ouch Lntoreat ls duo.
. LL .
-,
l!AS'I' 1'l!NNBllOllO AI\l;A SCHoo!. IllBTlllC'f
NOTES '1'0 nNANCIA!. Bl'ATEHEN'fB (Cont' d,)
JUNE 30, 1')')6
2, SUllll..ry at tllgnltlolnt account lllll pollc101 (Collt' ,\, )
1l"llII of aoeountlng (Cant'd.)
Account (lJ:.!I.Y~9jJ~),
COlDpanlotad ah.en"e. (th"lo f"r which elDplaY..1 rucelve pay) era
reeor,lad u.lllg tho tennlnllt llm llllyment lIIe thod, A 11nb U lty II
~ecorded throup,h the ule "I' ...tlmllton which opply hlntodclIl dotn to
eurront fdct"rn. Tho Illotrlct 11141ntlllno rocanlo of unulod leavo ond
nppHoa tho cOlltrllctod rllto for olllpl"yoon olllllblo for terlDlnlltlon
paYlUontl. Tho IHntrlct lI110wn ,,"ly ~ultrlctod oabblltlcal lollvo nnd
th.roforll hll. no rocllrdoll HllhlHty In 'I<lvlln"o of tho nllbhntlcnl.
Cash and cllnh ollul.vlllolltn
The Ulotrlct poall cnnh ron"U"CO/i llt cortnlll fUlldo In orlll1r to I'lIclHtlltl1 thu
IDenngomont af cllnh. Ao pllrl: of thln cnoh 1I1111111/1,UIlll1l1t progrllln npolllorod hy tho
Dlntrlct'n doponltllry I.nutltutl.oll, ovurnlght ropurchu/il1 IIgroolllunto IlrU bought
IInd sold on II rugulnl:" hoats to lncl.'lH1t.H! i.l1t~L"eut ollL"nl.ngu, Cnah .111tl CI1t1h
oqulvnlontl IIppl.lcllblo to 0 pllrtlculllr I'ulld IIru rOIlIII,ly ldelltt.flllblu. Tho
balancuN ill tho pooled clI6h IIlI1JHlgclllont nccollnta Ilro nVllllllblu to '''CQt cun:IJIlL:
ape ration r01jul.remllnto.
t'or purpanon of tho Food Survlcu Fund ntlltulllunt of CII/ih flowo, the Ulltrlct
eannldorn 011 depaolto purc\\IIoed with IIn orl.g\,nnl mllturlty of throo mOllthn or
10nn to ho cnoh or clloh oqulvlllonto,
lludgotn
The Illntrlct odapts, prior to the hogll1nlng af oach flscd yoar, on onnuol budget
for tho Genorol Fund ond Athletic Fund. A pll~t of thln budgot proeoal In tho
adoptlon of locol tnx rnton, nubjoct to vllrloun 10go1 rostrlctlann. The Ulntrlct
approven auha.quont budget rovlnlono (prlmorlly trllnnfero botwoon llxpendlture
eotegorlos) 00 lIeeeosnry. Ununud npproprlntlonn explro lit tho end of ellch yenr.
Revanuo . Locnl sourcen
I\onl ostnte, per cnpltll, runldence IInd occuplltloll tllxes nre lev led nn of July 1
wlth a legal, enforcoohlu clnlm ogolnnt the tnxpoyur and/or property. These
texon are rocognlzohlu ns current revenue whon recolved by the Dlltrlct durl.l1/1,
the flscal yellr nnd oleo ontlmoted to be rueolvod by tho DIstrlct wlthln nlxty
dayn after the clone of the flncn1 yenr.
An nllownnco for ontlmntod LI11co11eetlblo tllxon In rscarded baaed upon a hlstorlcol
aatlmate af dellnquent toxes that wlll nat bo recelvod wlthln one yonr, Deferrod
tall revenues are hOled upon 4 historical eatlmnto af dollnquont tnKes expoctod to
be recolvod wlthln ono yoor of tho flscnl yenr ond.
- 12 .
IlAST l'IlNN6BOll0 MEA SCllool. 111BTJUC'f
No'r~S 1'0 nNANCl^,. S'I'A'rV.HIlN'fS (Cant'.I,)
JUNIl 30, 1')1)6
2, SUJlIJIlary at Ilgnlflclnt IIccullntlng llOlldu (C'lI1t'd,)
RevenUI . l.oonl lourcu (cunt ',I.)
'fhe portlan of tUXOI rocolvnblo whl.ch II OXllootod to hI roonlved wlthln 60 dnYI
of Juno 30 II rocar,lod IIn rov.nllO III tho curront YOllr, 'l'ho rnmllllllng IImount of
tllXDI rocnlvnblo whlch II o:llloetod tu bo rllcalvod wIthIn one yellr frolD Juno 30
ls rncordod nl defunod rOVOIIUO, All othor Olllountl In the tllxes rocolvnblo nro
wrltton uff nl oltllDnted uncolloctlblo tnX.I,
Othar t'lll rovonuoa, IncludIng tlxllllyor'"lloll.d rovunUOI lIuch liS Ollrllol\ Lncom.
tlllU, Iro rocognl~od nl rOVOII.le whon rocolvod durIng the flscd yoor ar SOUII
enough thorooftor to bo IUlcolltlhle to IIccruol
RevenuI . Stoto luurces
Stoto luhsldlon d\!o tho Illstrlet os eurrollt fllclIl yoar olll:ltlolnollts nre
recognlud III rovonuo III tho eUl:ront fiscal yoor,
Revenuo . I"odornl aaurcolI
I"edornl progrnlll funds 1Il'l'1l.cohle ta OXllolldlturol for tho lome progrllln III tho
curront flaclll YOllr hut OXllocted to bo rocolvod In the lIellt flloal yoor aro
eecruod III current rnvellUO,
Intor.fund trnnBoctlons
I!llpondlturoa hy tho oOl1orlll Fund far tho benoflt af athor f'lI1dl ore reflocted In
the ronpoctlve atatomolltl of rovenuo IInd expondlturol/ellponul, hilled Oil
1II0nogeIDont's ostlmotos, 'rho Dlstdct daos not ottompt t.o IIUaeoto nU coati
whIch bonoflt tho othor funds duo to tho dlffleult.los auaclotod with tho
mOllouremont of such bonoflts,
3, COIh IInd Invostlnontl
The Dlstrlct's cosh IInd eoah equlvalonts conalst of cosh balances doposltod In
flnllncllll Instltutlons and repurehnss IIgreomonts purohosod by tho Dlstrlet from
ths flnonclol lnatltutlono as pnrt. of 0 ensh monogolDont account,
Cash at JUl1e 30, 1996 Ls clltoBarl~ed IlS followlI!
Cash and c~sh ooulvalenta
Cnrrylng Bonk
Vplue Bolonco
~ 500 ~ .0-
100,000 100,000
.0. -0-
210.511 ~.L..ll2
0 311.077 0 1.163.339
Change fundi
Inlured (FDIC)
Collateral hold In tho Dlstrlct'l nOIllO
Coll.aterBl nat hold In the Illstdot's lIalDe
Total
- 13 '
" ''t..
'.
EAST VI!NN6110110 ,\IlEA SCHOOL IHIlTlllC'f
NOTES TO FINANCIAl. IlTI\'fl!HENTS (Cant' d)
JUNI! 30, 1996
3, Cuh Ind lnvutmentl (Conc'.I,)
Th. tYP81 of authorlutl lnvaatlunta lire Umltetl by etete Ulul.tlonl, The
Ulltrlct'l lnVoltl.entl cane let of oOJlollltl In the I'ennlylvanlo Loc.1 OaVerJUDunt
Inveltment fru.t, Thau l.nvutmentl ore eorrLotl at COlt whleh IIIJlroxlln.tol I.arl<et
value, At Juno 30, 1996, 1111 lnvestments of tho 1'ru.t were eltler obUgatlone at"
the U,6, OOVerl1lDo"t ar ltl ngondu ar lnatrumencnlltlol, or deposLt. lneured by
FIlIC, nnd ere cet.gorL~od oe tallows:
l.mu.tJJIJJ.l.tJl
Cnrrylnl Mnrl<ot
Vnlue Valuo
~ -0. $ -0-
.0- -0-
.0- __.....:.0-:.
-0- -0-
982,988 982,2.JlJl
~ 982.988 $ . 982.988
In.ured (I"DIC)
Calleceral hold In tho IHstrlet's nl1mo
Oollnteral not hold In tho Plltrlet'a nome
I'ooletl lnvostmonts (l'!.lGI'L')
Tatnl
Invutmenl: poUdol foUawod durlng the yenr onded Juna 30, 1996 dld nut
Ilgnlflenntly alter tho elltegorlzatlon af lnvoltmontll shown nbave,
4, Accounts reoolvable
Accounts reeoLvablo lit Juno 30, 1996 eonsLst af tho followLng:
Food
Ce"erol Servlee
Fund Fund
Fodera I oubll.dles ~ 15,679 $ 11.,539
Stete aubaldlu 696,866 J,,65"
Due from other goverruDantel unltl 20,588
Due from I!IT/OI'T calleetor 271,076
Other reeelvobloa -0. 1. t,I.2
0 1.00/..209 $ 1"/ . 61.2
5, Dollnquent talles rocelvoble
AI ellplalned In Note 2, tOllea aro reearded a. revanue anly when rocolvod, ar, In
the cOle of doUnquent renl OItnte tallu, nveUable wlthln alxty daya, The
remdnlng balonce af deHnquent tnxu ret:elveble am reeor.ded <II doforred revenue
In IIceordance wlth ochoal oeeaulltlng poHdu, Deferred tax revonue amounted to
o 262,128 et Junn 30, 1996, Dellnquent tlllOS reeelvable na rofleetod on tho Juno
30, 1996 balance aheet eanslst af tho followlng:
. 11. -
~ ....
'.
UST PllNNSIlORO Ml'.\ SCHOOL DIBTUCT
1i0TES TO ~INANOIAI. STATEHI!NTS (Cant'd,)
JUNI! 30, 1996
5, Dellnqu.nt till' I reaelvnblu (Cant'd,)
Relll
IIl.lli E.tat. PereallaL
1990 and prlor Y8llre 0 127,731. 0 .0- 0 127,73"
1991-92 87,871 -0- 87,871
1992-93 96,092 9,81,6 86, ZI.6
1.993-94 126,0112 2,095 123,9,.7
1991,-95 223,503 71,219 152,ZlI.
1995-96 378,509 135.",.6 2/.3.063
1,039,751 218,676 82l,075
... n I Allawllnee f.or
UI1\lO 1 lec t lb 1.. 7MI,368 84,052 660, 309
Totel 0 29~.383 0 13/.,617 0 160.766
6, Oenerel FIlled Anetl
lu ellpldned In Note 2, buUdlngl nnd equlplDent nrn reflected on the balonce
Iheet undlr the Oeneral Flxed Alleta Group af Aceounta Itntod ot hlstorlcol cost
or eetlmated hlatorlcal COlt If aetuol hlltorleal cOlta are not Bvellable, ^
lUIDl1lBry af ehnngu In filled ueetl for the yenr ended June 30, 1996 II IlB followl:
Tranafern
lI.glnnlng ond End
of Yuar Addltlonl DlapoalllB Df Yuar
Oenerel flllBd llIutl
Land and
lmprovementl 0 325,856 0 -0- 0 -0- 0 325.856
lluUdlngl and
lmprovementB 20,""9,829 267,781 -0- 20,717,610
Furnlture nnd
equlpment 2.055,572 2L4,~62 05") 2.269,1.80
0 22.831.257 0 482.043 0 (354) $ 2J.312.'.M6
- 15 -
UST 1'l!NNSIlOllO ,\IlEA 6CItOO!. DI6'rIlICT
NOTES TO FINANCIAl, BTA'fl!MI!N1'S (Cant' d, )
JUNI! 30, 1996
6. Oanara1 VIMld Allltl (Cont'd.)
lIeslnnlng
of Yltll~
~ddltla.la
Tunlfeu
Ind
DhpDnh
I!nd
~JU:
Foad SarYlal Fund
Bud eNle tI
f\lrnlturl end
aqulplllnt
AaaulDulatld
depualetlan
o
181.,522 0
CL6B.929)
13,269 0
(I..OLB)
(6,296) 0
6...llA
191,',95
(166 ,ill)
o
1~.593
o
9.251
$
-0-
o
2/..8/tft.
7, Cllneral abllgatlon bandl poynble
A eUllunary of chong... In gOllord obHgntlon bond I payable for the year ondod JUIlO
30, 1996 II III follows:
l'aymonts
Iloglnnlng nnd ather End
of Year tl.II.lll.t.l..!u:ul ~eooes of Ysar
Oenerel Obligation Ronds
hrl81 of 1992 0 8,165,000 0 -0- $ 150 I 000 0 8,015,000
lIerl81 of 1989 6,169,367 1.07.880(0) 815,000 5.762,21.7
$ lit. 33/..367 $ 1.07.880 $ 965.000 0 13.777.2/!1
(I) Repreaente nceretod Intorest on Copltal Approclatlon Rondo,
A, Oeneral ObHgatlon Bonds, Series of 1989 - l'raceodl of this
llaua were applied In pnrt ta refund the District's Oeneral
Obllgatlon Bondi, Sod... af 1987, with tho romalndor uud ta
PlY certain eaets of the refunding program nnd to fund ather
eapltel IlIprovemonta to foellltlos awnod by the District. As
part af the refunding prograln, funde Wero Irrevaenbly depaelted
Into an Elerow Account, The Eeerow Agent ueod theu funde ta
puruhnee Unlted Stntee Trensury Securities . Stote nnd Lacnl
Government Sorlos In sllch omounts nnd mnturltlos to sntlsfy
Interelt paYlnente on the 1987 Bonds ond retire all outstnndlng
1987 Bondi an the September 1, 1.992 call date, The Oenerd
Obllgatlon Bands, Serl... of 1989 eonelst of Cnpltnl Appreciation
Bonde, Interest accreted thraugh the Mnrch 1 payment date af
each year on the Copltal Appreciation Bonde II edded ta the
clrrylng value,
- 16 -
, -,
'..
1.!A~'r l'I!NN61l0110 AI\ItA IlcltoO!. UI61'lUC'I'
NOTU '1'0 f'lNANCIAI. 6'lWrrnW'I'B (CanC'd.)
JUNl! ]ll, I'JIJ6
7. O.nlral llbUllClan bllndl plYllhlo (Collt',\,)
8, Olnlrd OhUgII;I'1I1 11011,11, H.I'I.I of I'J'n, l'rauudl of thl"
luue ere halllg UHu,1 1"1 danlKlI, '''lll.trllllt, fUl'I1llh end equip
e nlw elellalltal'Y Idl'") 1, Th. II. t ptOlllllll'l wa I'a dUllael tad In
thu Capitol, l'ro,lo"ln 1""11'\ whore IhllY IIr. nvnl.lllhle to llaY the
ualtl ot thu OllllUulllnty ncholll COIIHtl'lIctlon projllllt, 1'ho18
llllndl, whl,ch lalltUl'lI ullI,ually HoplolUhol' J, of .lIllh yoor thtough
the year 101,~, pay llllorolt Ill: IIl1nU1I1 totOI rllnglllg fralU 2, '10'
to ~,80',
Future 1I11tudl:l.. 1111'\ doht 'OI'Vllle 1'0'1111 romontl 01'0 III loUawn I
Surl..
Badal uf 199~ pf 1901)
Copltlll
Allpnclatlon
hJu: IJu.Al 1ttl1lll.1IlJ1.l Incurest Il<lllda III
1996.97 0 1,1.09, ~80 0 160,000 ~ 1.39,580 ~ 010,000
1997.98 1".07,630 165,000 1,32,630 810,000
1998.99 1,'.05,090 170,000 1.25,090 810,000
1999.2000 1,1.01,7'.0 18~,OOO '.16,71.0 800,000
2000.2001 1,396,910 220,000 ,.0(,,1)10 770,000
2001.2012 ~,., 126 Jill. ..L.l15,000 2,1) 31. !,ll. I. ,080,000
'fatllh 0 21.11.7.36/. 0 8.015,000 0 ..).052 . 16/~ ~ U .000 .000
(1) llafLaetl final ,anturlty vnlue 01 Copltnl Appraelotlon /landa,
8. Campenlllted nbaoncoa
At June lO, l'J96, the Genornl Long-Tem Ooht Graup of AecQuntl Includen 0
IhblUty for calnpensoted abuncaa af $ ,,71) ,1.56, l'aY'Donte for cOlUpenlllted
Ibleneel ere mada thraugh Oenoro1 rund expon,lIturel In tho yoar tha alllenee Ie
uled or the elDployeo retlrel, Whon an e,aployoe rotlroa with unusod compensated
ebalneel, the Olltrlct'l poyout polIcy I. ea fallawa;
Emergency end porlonlll . no payollt rO'lulrod
Vaelltlon (odJDlnlstrotlvo poraonnol only) . unusod vacotlon day I
(not ta oxceod 5 dnya) nro pold at tho tlmo of aeporatlon
Slokn..& . na payout roqulrod
Peraanlll dnYI . unueed porlonol doya (nat ta exceed 5 daYI)
ere paid It a rate equol to tho ovorogo rate pold to lubltltute
teaehe re
. l'I -
EAST 1'l!NHSIlORO Ml!A SCIlOOI. DISTRICT
NOTl!S TO nNANCIA!. Bt'ATEHI!N'I'S (Cont'd,)
JUNE 30, 1996
10, I'enlllan plen
All full tllDl Dllltrlet omployeulI ond llort time employellD with lit hut 80 <lIIYs
ar 500 houu of .orvl~e YUllrly, Iro eUglhlo to Ilertldpetu In 1'he l'ubUc SchoaL
l!tnplaye..' Ilotlrel1lent By.tem 0/: I'ullllsylvollln ("Systeln"), 0 eoet..hllrlng, multLpLo.
e'DpLoyer defLnod hOlloflt ponHlan pLol1, The payroll for tho e,"ploye.. eovuro<l hy
the 1,lel\ for the yun endnd ,Iunu 30, 199610101 $ 9,7"'),~8LI the DI.trlct'l totlll
pllyrall for that perLod Wa. $ 9,970,8~2,
l!lIIploy.... wha retlru lit IIgo 62, or IIgo 60 with 30 yellrs of. IIIrvlcu, ar wlth 35
yeou af nrvlce rugor<lLII.' of 000, are untlt\od ta n rutlromellt benuflt, poyohlu
1II0nthLy far Ufo, e'llIlIl to 2' of thelr flnnl IIvorllge aoLllry tLmel YUllrs of
urvlce, lIunoflta VOlt on rOllchlno 10 yoorl of sorvlco, Tho SYlltem nlua provl<los
for enrly rutlromollt lit ogo 55 IInd for dOllth Ull<l <IllubLLLty benoflts, Also,
health In'lImnce promlulD IIsslotonce af $ 55 pllr month 10 pravlde<l for qUllllflu<l
rntlree. ,
Covered .mployeulI IIro rO'llllred by otnto stotuto to contrlbuto II purcontogu of
their ulory to tho pll1l1. This porcentngu ls 5,25' far ol1lployeoo hired bufore
July 1983, and 6.2H for omployeu. hired lifter thllt ,Iatu, Tho nlltrlct's
eontrlbutlan n5 a pureentoge af. solarles 101011 11,72' for tho YOllr ondud JlIne 30,
1996, nnd wUL ho LO,60' effective July L996, 'tho Illutrlct's contrLbutlon for thu
year endod Juno 30, 19% WIIS $ 1,11,2,979: omployoe.' eontrlbutLons wore $ 51.9,006,
The penalan buneUt obllglltLon, which Is tho IIctullrlnl pro.ent valuo af crudltod
prajeeted bOlloflts, Is a stnndnrdl2ud monsuro of tho prosont voluo nf punslon
buneflts, ndjustod for thu offects of projocted salnry Increoses ond sny Itup.
rllte henoflts, u.tlmoted to be poyable In tho fllturo os II rellult of on~Loyoo
service to doto, The InOOSllfo Is Intonded to help usors 05.0.. tho retlremllnt
ay.telll'. funding stntus on a going-concern ballls, IlBSesS pragroso Inndo Ln
aceW11ulntlng .uffldont nssots to pny boneUts whon duo, and moko eompnrlsons
Illllang public elnploye rotlremant .yetems, As of Juno 30, L995, the most rocont
eetuarlel vBluntlon dnte, the System's pension boneflt obUglltlon, os colculnted
In lIeeardnnce with GASB Stntemnnt No, 5, totBlled $ 28,2 bUUon, Not asaots
evllllnble for benoUts ns of thu surne duto totalled $ 25.0 bLLUon, Tho unfunded
pen. Ion obllgotlon under GASB Stotolnent No, 5 tatnLlod $ 3,2 bllllan,
Tatel eontrLbutlons ta tho Sy.tonl fralD 01L psrtlelpotlng umplnyurs for the yourl
ended June 30, 1996 and 1995 woro $ 907 million (ostlmotod) and $ 825 mLILlan,
reapee t I vely,
Ten-yenr hl.torlcnl trend Informntlon .howlng tho Sy.tem's pragress In
eceWllulatlng .uffldent u.ot. to pay beneflts when due Is presented In the
Ily.tem'. Comprehen.lve Annunl Flnnnelnl Report,
- 19 .
I!AST 1'l!NNSlIOIlO AllM SCIIO!)!. U1Sl'IllC'I'
NOTIlS TO l'lNANC lAI. STATIlHENTS (Cant' ,I. )
JUN~; 10, 1')'J6
11, Hlnea.lnent e.rvleel
t'hll allhterla toellltloo of tho Illltrlct worD operllte,j hy n thlr,\ pnrty vOlld'l1" ,
Undlr tho terma of tho calltroet, tlw "undal" pro"l<lol far tho OPUI"IItloll on,l
m",lntenanee ur foa<l 101""I"u. /1/1 rO'lulre,1 hy low, with the palldu uuhject t"
the IIppravel of the Illltdcl;, Operlltlnl\ COltu, 11lIlI1l1golnonl; toOl IIn,1 ndmlnletrlltlvu
ea.tl lire hilled lPanthly to tho Plutrlct,
12, Other IIO.t-oIDploYlllollt rotll"omunt 1I0nuf!tll
The Dlutrlet off 01"/1 ano palt,oloploYlllont hunoflt to 1:01;lru<l prafos/llonnl ulnpluyuu
other thon ponlloll benofltl III ..lscuHlo<l In Noto 'J, fOI" ompl.oyoos with twenty 01"
IDare Yoorl af nrvlco to tho Illstrlct, tho Illltrlct wHI. pny tho hllulc modlc/l1
Inauranee premhuua for flvo yonl (e~du"llIg fllmHy co"orogo) following
retlremont, l'hl. helleflt II1110untod to lIppro~lmlltoly Gu ,000 <luring tho YO/lr ondo"
June 30, J,996 nnd covored 111 ollglhle retlrod omployoo/l, Tho Ill/ltrlct daBS n1l.0w
other elDplllyeu nat ellglhln for thll honoflt to romoln In It I groop modlclIl
In/lurance phn upan poymont hy the rotlrod omplayoo of. tho cost of such covoroll.,
13, Rllk Innnngoment
t'he Dlatrlet Ie ellposod to vnrloun dll,. or loS1 roloted ta torts; thoft of,
rlnlPngo to, end dO/ltructloll of /llsotS; orrors on" oml.olono; Injudol to employeoo;
nnd noturlll dl/laotorl, Tho Illltrlct 1II11lntoln. cOlnlnorcllll Inllll"lInCe cavornge
cave ring ooch of thoeo risks af 10el, Hllllngomont bollovol such covorllge Is
sufflclent to predudo ony olgnlflcont unlnlurnd 101/100 to tho Illlttlct, Sottled
elnllDl heve nat ellceodod thIs cOlllloorcllll covoroge In IIny af tho put three flscol
yenn,
For purpoeos of 5tnte unemployment eamponslltlon lows, tho Illstrlct hllo aloct."
not ta be covored hy the l'ennsylvonln UnOlnplayment Compons"tlon Fun", ^,.y
unemployment clolm/l oro p"I" hy the PI/ltrlct on a quartorly hO/ll/l os lnellrrod,
The Dlltl"lct II n member of II group of School DI/ltrlcto wha havn jalnod togother
to IOU .Inlur.. their worken' eomponsnt lOll ellpolure, Tho DIu trlct pnys onnuol
cantrlbutlone ta the graup blleed on a forloulo utHldng tho DistrIct's own dollo
ellperlenee and ennunl payrall, Clolms In ollco.e of the Illstrlct'. r.tontlon
ellpotlenee are paid by a Contrlll Fund withIn the group and, If nocounry, by on
lnauranee eampllny ellrrylng ollcess llablllty cave raga ,
II.. Conudtments nnd oontlngoncles
The collectIve bargaining ogreernont betwoon tho Dlltrlct IInd the toochlng stoff
ellplres on Auguet 31, 2000.
Tho Cener"l Fund balnnco ehoot dool nat rofloct matorlols nnd 8uppUee I"ocolv....
but nat pllld for prior ta June 30, 1996 whIch lire hudgotod far the yellr 1996.97,
" 20 .
,
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