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97-06212
r ,', " 'Ii , II ~ I," ,:tj Q ~ - s. t c ,tJ " . , ~ ,A" :.;, .\I)S I': 1',;"'- ,1\' 'H 1\11 ,'1'.\\ It' , il!\.. I.I!;! 'r' .1\ HI "I " :':'.i.. ~j , , ,\\' . 'j "1, '.It- 'I',) ''(11 .'\ I";' "I , 1-,; Ii '/,{ I", I!~ ; ,:'ii, ~ .. 'r\ ~' , "~, " ,i,' ~ '" f"\ () "\ ') I..) J v v \, '...... '.-.."...l........'....~ 97- L. 'J.IJ.. Ciult~~ I ", . /1 J. A (/(((II",,,,,II.{ ('''''P'IIII/, I~'~ V~(J. '" . . ... .," d___.__._.._.__~ IJ,.,.t'~~'rl "yJ..,(I". .r.v:."f.'....tr"'tl.J ,.., I Cf\Ml' HIJ..).. SGHoal. PI8'mIC'~ . C/IIW HI)")", 1'!;;NNSYI.v/lNIA JUNlJ: 30, 19')7 r') () .) ,) I I I~ I I " ) ') I ) J .J ) j ( u \ ll/D.J.\.lt Indopendont uudLto~s' ~ppo~t CombLned blllanou sheot - IILl fund types /llld account groups. Juno 313, 1997 CombIned st4toment at: rovenuo, ollpondLtures IIHd changoe In t:und balances - All COVerl1l11ontal FUnd Typos. year ended Juno 313, 1997 ~ 1 2 3 COlllbInod statelllont of revonuo, ellpendLtures /lnd changes in t:und blllallCOS ' budget IInd /lCtUlll ' Cenoral Fund and /lthletlc Fund . yellr ended JUne 313, 1997 II . 5 CombIned statolllol\t of rovonuo, exponsos /In,l chllngell in ~etllined oarnings/fund balallces J:'rop~letaJ:Y Fund l'ypoll /lnd Nonexpendablo TJ:ullt Fund II - year. ended June 30, 1997 Combiflod state/llent of cash flows - Prop~lotllry Fund Typoll and Nonexpendahlo Trullt Funds - yea~ ondod June 30, 1997 6 '7 Notell to financllll statelllonts - June 30, 1997 6 ' 22 , " l~ l)~ '.IIINl IlW~III~ II"'IN,IWMI " II)N 11m {MAN IN II PNlIl' '" I ~~1 Y --, , ~ ij~m~~'~\fl"'II.I'~" ~. I., )INIII" I r/"))I qllWI. u 'nll~ ' , GJl,l.J"lNAWAJ.T & COMPANY, P.C. 1I""lrIlD PIl,LIC ~CIIOIlNr~Nrl PO am II 400 W'~T """'N Sm.,.! ""'<11""''''.11'11111 /"I:NNSII.Y""'A 170613 "/111 .,....I.~ IA>.I'II1"I" nil I,' wm /'I)M"n ImH 1:~"I!lI. fA Ihlll 1/)/I/41.w111 rAXlmi/l"'II1/ ltIJlJili.iliilli.ti'LJillDI'I'(lI\S' /U:PQJ.\I aoa~d of School PI~Dctora On/lip 'ILL~ SlIhllOl /llutrlct Oam~ flUl, 1'llllnsYlvnl)In -/ \Ill hl\Ve audltod the IlccolllpnnYlllI\ gOl)o~1l1'purl"lIIo fLllllllclnl stnt"1II011ta of Onlllp IH~l School /lllltrlct nil CJf ,IUllO 3t), 1991 Ilnd fo~' tho Y""~ the I) ondod, all llsted ill tho precodlng Illdox, 'l'hoso general- purpoall f illallclnl s tatelllent. nre tho renponsibillty of tho DIstrlct'a IIIllllagemollt, ()u~ rosponllilHl1ty la to expree. nn oplnICJn on thllll" gllno~nl-purposo fInancIal statelllentll based on ou~ lIudit, ) We conductlld our audlt II) acc<lrdal)co wIth goneL'ally accepted audIting .tanda~ds, l'hoso scnndnrds ~'equl~ll tllllt ,W'I plnnalld porfo~m thll audIt to obtain r&asonablll assu~ance nbout whotho~ tho gsneral.purposo finllnclnl stlltelllllntll n~e f~oe of materInl IIIlsstntolllont, /Ill nudlt IncLudoll exnmlning, on II test ballIs, evIdence suppo~tlnl.\ tho IIIl10unts cnd dlllcLosu~os In tho I.\llnernl 'pU\'POSO financlnl stntements, An nudlt nlso illcludes nsaosslng tho accoulltlng p~lnclples usod and slgni/!Lcllnt elltImntes mnde by IIll1nngolllent, ail woll liS evaluatIng the overalJ. gOl]e~nl-purposo flnnnclnl atatolllent p~esentatIon, \10 bellovo thnt our nudit provide. n roasonnble baels for our ol'lnlon, In our OpIlIloll, the nccolllpanylng genernl-purpolle flnnnclnl ntntements p~osent fnlrly, In nll lIIatll~inl rellpllcts, the flnnnclnl posItIon of Camp HLll School Dillt~ict nil of Junll 313, 1997, tho ~esults of Itll operations and the clIsh nowlI of its Prop~iotnry Fund l'Yl'es nndNollexpendablo l'rust FUllds for tho YSLl~ tlJen onded, in confo~mity wIth genorally nccopted IlccountIng prInciples, ..' 1 ,.I Beptembe~ 19, 1997 Mechllnicsbu~g, Pennsylvnnln ) , l ' I, .1 u M':MIlr.II~ - ^,1~IIII'AN IN~nn'lt '" L'I\II1WII':111'1 111.11' '\L'\'''''NT,'Nr~ .. I'I':,'N~\I\ 1.'1,' IN~TII"'tI; Ill' l'r.IlTlI'lIm 1'1'1I1.1~ 1.1'~"UNTI.NTlI C/lHl' 111/"1, SCHOOl. JHWl'IUC1' "" cOM/lIN~J) Il/Il..ANGI\ ~m:E'1' - /It,l, FUNP "'YI'~:S /IN I) IICGlJlIN'I' [J/llllll's JlIN~: 3lJ, I'll)] ,.jlllVI} ~llJJljJIII;n' FIIIJll.'!~JlJI '" Spllclnl CHpItH' gUllul'''! JlnvUnllA! L>rQJou~ /loSQ to Cash and cnsh Q'lulvnlolltH Jnvutmonto DeLLnquent tHxes ~ocolvnble (not of a11ol>/"nco fOJ: ullcolloctlbloll of $ IIM,381) pue f~olll QthQ~ fundo lnto~goVorrnllontHl oCColmts rocolvnblo State subnIdlos ~ocolvnble PuJeral subnIdioH rocoLvHblo Qtho~ accollntll J:eceLvnblo /"onns ~ocelvllble - rolatod pnrtIes J..nnd and bUildings FurnIllhings IInd oqulplllont Alllounts aVIILlllble In dobt sorvLce funds /llIIount to bo pJ:ovldod fCJ); tho J:etl~olllont of gono~1I1 long-torlll dobt Total $ 2'18,089 1,569,0~1 $ 2/. , HII $ 2,26/, l,aSll,olo ... 22 Ii, a 311 10,293 112,257 'I') , 5U~ 1/9,53') 3/.,025 5~U,062 9,677 9 2 ./~6 8.680 $ 2h. ~j :1/. ~ 1.631..033 /"illbLlLtles /lcc~uod pllyroll IInd benoflts /lCCQUnto payable Pofe~~ed tll~ ~uvonues pUe to other funds /.'~upaymuntll f~olll pe~sono o~ firllls Due to studont organIzatIons Gune~aL obligatIon bonds paYllble CapItaL 10Qse obligatIons Accumulated componsatnd IIbsoncus $ 615,8~7 79,261\ 222,31313 568,062 11,623 $ $ 1.,/1313 IH,222 " ' Total liabLl1tIes l.i.97.la.Jl. 11.1.313 131. 222 Fund equLty Invested in gene~al flxod assets ~otlllned ea~nings SpecIfic fund bnlance ~eserVell Un~ello~vod fund balancos 213,11311 1,5a2,8U Total fund oqulty Total -2J...L.iZ2. -2ll...:l1l 20.l01. 1. 5132 ,811 9 2./ul8.680 $ 2.1..53/. $ l.634,Q~~ Thn accolllpllnyLng noteD II~O an lntQgrnl pnJ:t of thoo" fLnDncl111 stntQlllonto, - 2 " ') l'~l'f1r lo t,,~,y Fund TYl'lI.ll,_ D~lJt r.",d li9~ lUu'.Yl1l!l $ 1.,7513 $ M,l Q " ,) l'lllud'I~'Y .1"'1111' 'I'YPoll /I!\oncy 1J:lliLl; i/)c t 1 v L t lOij) 38,1131l $ 6e),721 $ ACL:l)lmt ()ollo~nl Flxud Allu.ll.l;.tl QrCJ'llls Gunoral L!JJlM -Tf<rm Ileht $ O/IHI' HU.l. SCWJQJ.. PU'I'I\IC'l' llaMllIN~;P ~'l'/ln:M~;il'I' l>l" IU;V~:illJ~;, ~:Xl'IlNllI'l'lJlll\~ ANI> C:lI/lN(Il';s IN F'lJNI> ll/ll./lNC/lS ' /11,/- GOV~;l\NHI';N'l'/Il. 1"lJNJI 'l'YI'/lS Y~:/Ill ~:NI)/ll) JUN~: 313, 1')97 "'1 Rovonue J..ocnl 1I0U~CUS S tntu 1I0U~UUII Fodurnl SOU~CUII 'l'otlll ~uvunuu ~xpundltu~oll Inllt~uctlon BUppo~t 1I0rvIcoII aporatLon o~ nonlnstructlonnl Ilo~vicoll l'acllLt.Lu aC'luillltlon, conlltructIon and Llllp~ovellloncs ' 'J Debt service '~lnclplll payments Interest /ldllllnlst~lItivo oxpenses ~otal expondltu~es Excess of revenuolI ovo~ (undsr) oxpenditurell Othe~ financIng Ilources (uses) Interfund t~anllfo~n In Refundll of p~lor yearn' expenditures Net p~oceeds ~roJn the lelluance o~ 10ng-torlll debt Inte~fund tranllfe~s out Trans for of Rocroation F'und to Oamp lIill llorough Total other financing 1I01.l~COS <UIIOII) Excosll of ~OVenUOII and other 'J financLng 1l0U~Uell ove~ (unde~) expendituroll and othe~ financing ueee I I ) I ,J Fund balances, July I, 1996 Fund bolanc'llS, Juno 313, 1997 gelleL'n~ 9 '1,672,7Q~ ~ l,3'1~,0~9 7 6 JJJ1J. 2...ill.Jll!l. ~, 36'),775 2, 531. ,1,75 2137,6613 32,701, 221',767 28~,2110 8,651..7139 1170.325 92 9,961. (6813,106) (~70,05a) (199,725) 1.171.297 $ 97l.572 $ Spoulal liu.YJI~ Gnp l tal fJ:9~ 111,1313 $ 87,/09 11.. 073 R 7 . 1Jl2 116,91113 1,1,77,787 116.91,13 1.1.77.7ll .JJJll...Ml ) (1. 3913.1378) 78,131313 566,067 2,321.,61.8 (111.2133) _1\3,797 2.8913.715 (39,1370) 1,51313,637 59.171. 2,174 20.10/. $ 1.502.811 $ Tho IIccompanyLng notell a~e an Lntog~a1 po~t of thello fLnnncinl statements, ) 3 pebt ~qry~cq $ 693 (,')) 11 'L'~58 11.1169 (3,776) (92) /~~) II .i!-';' ) "i (3,868""":::,1 ) I: i i ~i,'i;P_ '1- ~- "-,,i'ij 8 . 6 '-,._ ;!~',I!l'ju H,,-.\!j.)fl. 4~ 7~~:~J:h ",I ;:1 tl " O/llil' 1111.1, ~GIIOl)I. JlLWnllGT G()MIIIN~:ll S'l'/ln:MEN'l' ()F 11~:V~:Nl)~:, ~:Xl'IF.NlH'I'l!Ill':H ANIl OJl/lNG~:S IN fl)ND 1I/1l./lNG~:H . 1I111l111F.'l' /lNIl /lG'I'U/II. G~N~:Il/ll. FlINl) /1/:-11) /I'I'IIJ$I'IG flit'll> W^'\ ~:Nl)W JlJN~:li), )'I'll " (Contlnuod) ,0 , - I, . "~I 'J;i! 1:,Ji' ,'''.) , ,1 I' .'~ oIiIl' ,~ .:,i(f '-, I I il') $ ") >.:J ',J (,J ,,) i 1 I I (I J ,Budllet 10,13013 $ lQ.QaQ ..0.. ..0.. Athlat:11J li'lU)d i\qtlllll 131619 13 ,61'/ ..0.. -a- V/ldM1CC ~'/lvo~llblc (l/nfavCJrllhlo) $ 3,619 3,619 -a- .0. G/lHl' 1111,1. Htllll)l)l. lHS'l'IlIG'I' GllHlIlNlm Wl'/I'l'/.\lil.:m' IW In:v 1':NlI I': , 1':Xl'I':NJH'l'lIll~:r, MIll ()11^Nll~:H IN li'lJNIl IIM./ING~:H - 1l1lllllJ\T /1m) /lC'I'lIM, tl~:N~:ll/ll, FlINI) ANi) /I'l'IIl,Wl'l1l FlINi) (n'Hll' d, ) Y~:/Il\ 1':NJWIl ,'lIN~: 'Ill, 1'1'1/ UwJw!. ~:XpOHdIlllruU (li'lIlt''',) OpurlltIlll1 o~ 1ll)lllHllt~lICll.'11l1l1 III)~vIcOH Studont octlvltlou ClIlIllllunlty all~vlcUII $ 1'11"l)'ll. ? ,) . 'IU.u 'l'otlll OpOWnllll CJt' Hun. Inst~\Ictll)lI111 aorvIcus 21'1.)111 FllcLLltleH /IC'Iulllltlon, COlIlll~'\Idtl(ln lInd Lmprovolllunl s"~vlco,, 311. ?I)I) llebt 1I0rvlco !j ~ l,liU.u a, 775,21,6 'L'otnl oxpond l tll~ull Excosa of rovOlluo ovu~ (lIl1dl)~) oxpondltll~ell ?18.1,\U athor financlng Rourcoa (usos) Into~'fund t~ansfers In l\ofunds of prIor yoars' oxpondi tU~OIl Inte~fund t~nlls~o~s out Budgetary reso~ve .(). 8lit) (21'),106 ) ( lHl) Total otho~' fLlIllnclll/!, sourcos (uses) OlH .1,91) EXcells o~ rovenues alld otho~' fLllanclllg SOU~cell over (undo~) expolldlt\l~eH IInd other flnnncln/!, uoes Fund balanceR, July l, 1996 ,0. H05,1\70 Fund balances, JUliO 30, 19'11 $ R05.670 $ ___..!JJ.lJJJlXI1L!'lllld A!d.Wll i,i I ')[) , 231. _J..7..Jl2!J. _2JJJ..J&1J. 3? . 7HI. --..:i..W.JlJJl. 8,6')1,,70'1 1170."125 9.%1, (6aa,106) (670,050) (19'1,725) 1,171.297 97t.572 ,., ,1">, VllrLallcu Favorllhlu 1"1 illll f 'IVCJrlll, l,u $ 3,81,0 --1..J1A .. LL , W. _Lill ... 9a5 120.5 H n 231.832 92 92 9,1611 (I/I,t ,131313) 187 (1.31.557) (199,725) 365,627 '.. $ 165.902 The accompanying lIotOR Il~O nil lnto/!,rHl pllrt of tho so flllllnclllL stlltulllonts, 5 ,~.i1' I '. ," Athluq" I'll",! blldll'lt Vllr LnHco 1"IlVCJ~aIJLo .(!J1)f'IVlI LOIlII LIll Actlllll $ lOl,OH $ 9l),5511 $ lo,503 -19.LJl1ll ql) , !i51. ~o. 50~ .0. -~ -o- II -0. -13- ..0.., ~Ql.a57 90,551. ll),5Q~ (91.057) -176,935) 11.. l22 91.057 75,13130 (l6,057) ) 91.1357 (16.057) 75.QQQ -a. 0,935) (1,935) .' -a- 17.331 .-l.1.....1.ll $ -13. $ 15.396 $ 15.396 ..), , I I'r) ! I , ! .J '_oj 1;N\J' III J.l, SI:!llll)J. IllUTJ\lC'1' CllMIIlNHI) H'l'/I'l'~:tm/'l' lW 11~:V~:N1Jl':, ~;Xl'ENs~:H Mil) cIlMW~:S I N I\WI'/lIN~:I) 1':MIN lNIIS/J"IINI) 1l/ll./\Nr;~:H l'lll)l'll l Wl'/IllY VlINJ) 'I'YJ'HS /lNI) rlllm':XJ'~:NI)/llll.~: 'I'JlllH'l' 1'11NJ)H Y~:/I~ ENlH:I) ,1l1N~: 3l), 1'1'11 l'rl))l('l"tn~y J'lllJ.\l...'D'll.!L. !-'<ll,rl liul:Yl!lli apo~lltlnpl rovonUo I.CJclll sourcus . ~IH)d ao~vlco ~evenuo l,()cnl IlOU~cea . JlHlIltbma $ 8U,I.~iI l'otal IIperllting ('OVenuo HH ,1.57 Qperlltlllj?, oXpensea FQCJd and 11I111< slllarIoll nnd wilgus EmplQyeo benoflta MDterinls and supplIull Contracted sorvlcus Property scholar/lhlps ~8, 8138 J~, U 50 1'" U98 2,351. 328 2,01.8 TQtHl operntIng oXl'onlloa 131.,286 aperating income (loss) (1,5. a2~) Nonope~ating ~ovenuo (expenses) Inte~o/lt; Incomo State /lourCOIl 1117 3.753 Total nllnoporntIng reVOnUO (oxpensull) 'I J ,'100 IncQme (Lou) befors trllnllfol'/l (ill, '/2'1) Fund tran/lfo~s GBno~1I1 Fund contributed servicoa 36,039 Not income (loss) (~, 8913) 6.357 ~etlllned earnIngs/fund blllnnces, July 1, 1996 RotaLnod ol1~nings/fund balances, Juno 313, 1997 $ 1.67 l'ho accompanyIng notes are nn Lntegral pan of these financ lill atntemonts. . 6 - l"lduc lllry fm)d 'l'yp" N<lnoxpoJ)dllb Ie Trust F\I"dll $ I..I)()~ L.2D.Ji. I. 32~ 1.325 6M) 1,961. 1. 96i1 2,6134 2,60/, 35.8'14 ~ 38. '.38 .. Callh and cnsh oq\l1valonts, July 1, 1996 Ca~h and cllsh aqulvnlonts, Juno 30, 1997 6. B7 ~'lduclllry k'UlHl 'l'ypu N1moxpolldnb 10 .....Ix1,.HJ t FI1IUJH 1-') I I eMl' 1111,1. H(:II()l)I, !)ltiTIl/,t.:'l' l:llMIIlNI\I) HT/lTI':M~:NT ()f" C/lH)I I"I,()IIH l'IHH'Ilil':TMlY VIIN!) TYI'l-:H /IN!) Nl)N~:Xl'~:Nll/lJJI.l': 'l'luJWr FlJtlllH Y~:/II\ I\Nlll\ll ,HIm,: It), 1'/97 l'ropdol:llry FUI)<I 'l'yp.IL 1,'o()<1 li.!l.r.iliJl Cllnh tLows tr'llll opoa'lltIll1.\ Ilctlvltl.oll Opo~ntInl! lncollio (lns'l) Cash flOWn trolll l1ol1Cllpltlll ~11I1IJ1c1I1P, 11l1l;lvltlos Stnto subsldloll - aoclnl socurlty Illl<l rotlrolllollt ra Illlbu~SQlllentll Fun<! t~anB~o~s $ --'I.';' ~~'J) $ 6110 3,753 --1O..JUj ) Net cllsh pPlvldoo.l hy nCJllcllplt'lll fLl1l1l1CIllg Ilctlvltlos ClIsh tlowD f~olll lnvontll1l.\ Ilctlvltlos ~lI~nlnl!s 011 ll1Ventlllellte _~..1.2l -0- ill 1. 961. '1 Not ll1C~ellSO (dOCrOIlIlO) III cllah IInd cllsh equlvalonts (5,890) 2,613/. 35,8311 $ 1.67 $ 38.1.38 .;.t . . Tho acco~panylng notes are nn Integral pnrt CJf these financial ntatelllents, I,j - 7 ' \ \ ,., CMtl' 1111.1, Hl:lllil)l, 1l1H'l'llll:T Nlln:H TO FINANI:l/ll, S'l'/I'l'I';Mf,:Wl'S ./lINE Ill, 1'l'1l 1, ~opo~tlnB entIty anlllJl HIll SChl)111 IlLlltnct In tho IllVlll CJf K'IVurllllll,nt whlch hlln Qwralght ~oIIPQnn~hUIty /lnd ellllt~l)l I)VUl' /lctlvltllJ/1 l'ullltud e" publIc ildl<Hll uducnt:lCJn, 'l'he ~eJll)rt 'ncblduu sllrvlcus Jll'llvldltll by tho llLutdl:t tll l'uuldolltS w~thln thu boundllrIua of thu Ill)roll/!,h l)f C:/lIII)"'lIl1l, Slll'vlclla Jll'l)v~dud lndudu n culllp~ohons~vu CllrduululII fIll' p~llllll~y IInd ullclllI.\nl'.Y udUcnt1<ln 110 wllll liS UJlUclll1 educllt~on and voclltlolllll uducntlllll JlrCJgrlllllu, 'l'hu IHstdct ruellLvoa ~llvell\IU fl'lllll local, ntato alld fllds~lIl uoU~cos 1111.\ lIlunt cOlllpLy w~th tho ~ellulrelllontS CJf these fUlldlng SQurco", CrLtorIn ostnhlIshod In Govurllmuntnl Accoulltll1,~ Stlllldnrdu IIllnl'll Stntelllont Numhe~ 11. woro uaud 111 dot~rIllLIlLn/!, tho ontltloa to ho llldudod I,ll tho ~oporting entIty. 'l'hese cr~torL'f Lncl.ude bnsiu Ltelllll such as flnnllcLnl LllterdupolJdency, seluct~oll of /f,ovornIng nutho~Ity, dosLp,nntlon of IIlnnn/!,olllellt, nbllLty to s~gnifLcnlltly Influollcs opo~ntlons, IIccountnbLlLty for flncnllllntters, sCCJpe of puhLLc s"rv~ce IInd sl'ecIaL flnnncLng relnt~ollabLps, lIasod 011 the fCJrogolng critorLlI, thu ~llportlng entIty hils bellll deflnod to Lnclude niL the fund typos IInd IIccount g~CJups for whIch tho SchCJol lllst~lct Ls financially accountablo Ol' for whIch thll~e la II sLBnLnc/lnt ~oll1tlulIshlp, Tbo audIt reportu of the component unlt nnd JoIllt venturll IH'U avnLlnblu fCJr publLc Inspection In the SchooL DIstrlct'u ndlllLnlst~ntlva offlce, Blondod Componont Upltn <,J Somo componellt uni tll, dOllp 1 te be Inp, lognlly sepn~lIte frolll tbe pr Imary govo~'111101\t, a~o uo Intortwlned wLth the p~lmnry governlllunt tllat they n~e reportod all pnrt of tho pJ:lmllry governlllullt, The compollont unlta ~eportlld In thIs way are all foLLoWll1 ... Camp IILLl Borough /I'JthorLty Tho Calllp HIll lIorCJlI/lh /lutbol'Lty (/lutho~Lty) wns c~eated to adminLstor bond Llluues whIch providod fundn fOl' the CCJnscrllctLolI CJf the Cnmp Hill Junior,SellLor High School and for subae'l"ullt llllp~,ovomellts the~llto, 'l'ho AUthority Is currently inactlvo, hut stlll IIIlllntllIns II slllal1 alllollilt of caah in one cash IIccount, lIalled upCJn theao fnctol'a, tho AuthorIty la lncludod In the School Dillt~lct'll roport~ng ontity na part of Its Debt Se~vLce Fund, Thu /luthorLty operlltes 011 II flncLll YOllr elided DeCelllber 31. 'l'ho Authorlty's bllLnnce Ilhest ls as of Decumbur 31, 1996 IInd the ntatamallt of revenuus, exponditu~es and cbanguII In fund baLance La fo~ tho YOLl~ onded Decembe~ 31, L996, Sepll~lIte cOlllpontlnt unlt fLnllncLlll stlltolllonts d~O L1valLabLe at tho Dist~ict offLco, .. ) , a . . (i) 1;t\MI' IIII,/. !jI;lIl)lll, III H'1'lllll'L' Nll'l'I';U 'I'll FW/lNlll/l/. H'1',vI'I':M~:N'I'U ((J'Hl!:' <I, ) ,JUNI,:jt), 1')')7 1, J\oJlnrtlnp, ontlty (C'Illl'd,) lUJu)dod (/'III1Il.!l.ll!Jll.\:.JluJJ;ILl!iOlIll:' d, ) l'ho l>1stdct 111 /llsn /I JlIll't:lclJl/l'I!: In throe nthe~ .lCJlntlY-/.!'lvorno<l ol'o~'ltIIlIlS, ollch lit' \IIhlcll l~ /I u"Jl"r/lto Inp,/ll olltlty thllt Ilfforn odllclltlnll/ll norvlcus trl thu llIstdct '1IId flU 1'lIuldollta, ~:nc\t or tho"o ollt:ll:leu Ull~VO/J III11I1Y school dlstdcts MId M'u tho~Or"tll 1I11t: IlIclll<llld II/I Jl/l~t nf CIlIIIJlIILLI Sdlor>l. IH/ltt'lct:'s ~oJlortlll/.l, entIty, 'l'hllUo llthlll' "lItltI<1s /lr" /lU t'ollll\llRI Oal'ital /lro/l Intorlllodl/lto UnIt: ' Jl~ovldoR sJloclnl odllcntlCJn RDrvll10R /lnd Jlrogr/llllll, CUlllho~l/1nd'l'o~~y /lroa V<lcntlolln l''L'ochnlc/ll Sch<lo 1 prclvldea vocatIollal /llld l:ochnIc/l1 edllcation Rorvlcou IIl1d I'rogrltlllS, ,'1 IIlInlaburg /lroll COllllllullIty CCJII,ogCJ educlltlon uo~vlcos /lnd proB~/lma, l'rllvldell C<lllllllunlt:y collpge < I 2, SUIIIIII/lt'y of a l/.!nHlc/lllt /lccollntlng pollcloH The account Lng roco~dll bf CIIIIII' Hlll SchCJol DIstrict /I~O malntallled on the basis of IIccountIng pr/lctLces pt-escrlbed or 1'0rlllLttod by tho Mllnu/ll of /lccountlng and Jlelated l'ln/lllclnL 1'~llcodu..es fo~ l'ennuylvanl/l School Systllllls, lssued by tho Vennsylvani/l l)eJl/l~tlllent of Educ/ltlon in llccol'danco wLth the pt'ovLsions o( the School J..a\lls of Pennsylv/lnL/I. T\tosll practicos are In conforllllty \IILth generalLy accoptod acoountLng pdnclples aa al'pllcable to goverlllllental unIts, /I sUllllnary of tho lIIore slgnlflcant accountlllg pollcLes foLlows, '.1 Fund accountIng . Tho aocCJuntlng records of the DistrIct IIro orgllnizod on the basIs of fund t:ypoll and account groupll, Each fund typo IIIIlY consIst of seve~1I1 dHfe~ent funds, Each fund is a sepa~ate ontlty wIth seLf,balallcing accounts whLch cOlllprlse Its assots, liabilLties, fund b/llance/retalned earnIllgs, ~evenues and oxpendituree/oxpensos all approprl/lte. Tho fUlld types /Ind thll account groups utlllzed by Oamp IIlll School DllltrLct are as follows: Governmental Fund Typea '.J Goyornmental ~'unds are thoae thl'ough whLch most: governlllontnl functions of the School DIlltrLct are flnnncod, The acqulaItLon, uao nnd bnlancee af the school Diat..Lct's oxpendablo fLlI/lncLal rO"OllrCOS IInd tho ~elated llablllties (except thoee accaunted fCJ~ In p~dp~letllry nlllde) a~e /IccCJunted for th~ough gove~nmsntal funds, The 1II0alluroment focus la upon detormLn/ltIon of changee Ln fLnanclal ~oeou~cell, ~athor than upon not lnClJIIIO detotmln/ltLon, The funds LncLuded In thLs catogo~y /I~e: . , 9 . ) ,.., '\ ';/lMP IIILl. Ht;JIQ()l. 1)15'1'1\1.;'1' /,/()'l'~:H TO FlN/lNCl/l1. HT/I'l'EM~NTH (C'lIlt' d, ) ,)lJI'H: 31), l'I'i! 2. SUIIIIIIII\'y of a1llllln"llIlt IlccuulltlllV. P'lllclull (C'1I1t'd,) FUlld accountlllV. (Colltld,) Govornmentnl. Funfij;ypell (COllt'I',) GOllo~1I1 VUIlU ' 'I'h" [JlIllornl VUIlU III ullod tCJ nc':oullt fo\' Illl flnMldal t~an~actlonll Ilot nccountod fl)~ In IIIlCJthor fund, llevnnuea a~o primarUy dodved t'rolll lCJcnl p~CJpOI'ty, pl1~ cllplt" nnd occupntlon taxe~, and Stllto Ilnd Flldol'nl dlstl'lhutlollS, M'lny of the 1II0\'e IlIIpo~tllllt 'Ictlvltlos of tho Sch')CJl lllst~Ict, Illcludlllll I.llsu~uctIon, ndllllnlet~lltloll of tho SchCJoL lllstdct IIlld co~tnlll n'Hllnatructlonlll servlcos n~o IIccolmted fo~ III thls fund, ') Special ~evenuo Fund - Sl'eclal Revonue Funds a~o used to HccoUnt fCJr tho p~Qceeds of qpoclflc rovelluos that II~O ~ostrlctod to expondltu\'o~ fo~ speclflod purp9ges. ''l Cllpltal Projects Fund - Capltal ProJocts Funds arc usod to account fo~ fLnllnclal ~OSCJU~COII to be useu flH' the ncqulsltlon or cOllot~uctIon of capItlll fncllItlos, Debt Se~vlce nmd ' Deht Sllrvlco Flmda IIro usod to account fo~ the IIcculllulntlon of ~osou~c"s fo~, nnd the pnYlllent CJf. gOllol'al long,teclII dobt, prlllcLpnl, ll1te~ollt nlld ~lllntod llosts, ,',. Prop~lotary Fund Typell P~oprietary Funds account for CJpo~ntlonR that aro flnanced and operated In a manne~ silllIla~ to prIvate buslnoss enterp~lllolll . Food Service Fund - l'ho financial trnnsactlolls cafote~las , Food So~vlco Fund Is used to accoullt for the HSlloclntod wIth tho ol'e~atlons of the FIducla~v Fund TvpeR ". FiducIary Funda (Trullt IInd Agency Funds) n~e used tCJ 'ICCOllnt for allset~ held by a governmental unIt In a trustoe capnclty or a~ an agont for othe~ funds or entitie~, Nonexpendable Tru~ts nro accollnted fo~ In e~Rentlnlly the ~ame lIIanller liS l'rop~ietary Fundll, Agency Fund. are custodial In n,lture nnd do not involve measurement of ths ~esults of opotatlCJns: ..J . lO . ) 1"\ (:MIl' 1Ill.J, H(;IIOOJ.. IHk'l'JUCT N()'n:H'I'll F1N/lNGIM. H'l'^,n:Ml\N'l'H (G'lIIt'L\,) . ,'l)N~: 30, l'l? I 2, SUlUlill1ry o( aIgl)lKlcllnt 1I~~I)llllt/l1f. pl1/1cluu (Cunt'''.) VUlld IIccoul)tIng (Guilt''',) f'iU\IC III~V F\lIl.1!...'l'.Y.llIlJLlCI)nt'" ,J, 'l'~ust /lCCtlUl)tS - /lCCI)Uptll (o~ cuntrlbut/ol)a to al)d Il)torullt unp\Il)gll CJrl s~holl1~shIp fUI)t!s dopllte" tu rh~ PIetnut, Iln" fOl' pllymontll o( s~holjLrsh/p ~llllds t,) s111octo" atudentll, 'J /lct/vIty J'und ' /lccounts tOl' progrll/llll ')pe~lIted nnd sponsored by vllr/ous clubs !HId OI'glllllr.llt/'Hl/I wIthIn tho schoolll, /lctlvlty ~undll IIro /lgoncy Funds which 111'0 IlOPIlI'/ltoly IIccountod ~o~ bOCII\lae o( legnl l'eq\llremontll, , As.w.Yn~ Groull.ll ,'I /lccount grouplI IIro not funds, They aru IHlly conce~ned with the lI\oaSUrolllent of fLnllncInl pOllltlon IInd lI~O not lnvolvod wIth tho lIIenllUI'O/llent of rOllults of ope~atlon, ) Gene~1I1 FIxed /laaets - IlCCountll for tho DIstrIct's lnvoatlllent In Il1nd, buIldIngll and equiplllont, Generlll Long-1'e~/II Debt . OCCOlll1ts for bonds, cnpItal 10llaea IInd cO/llponllllted abllencolI pllYllblo III futuro yeal's, Ballis of nccount/ng [,"" Th~ accountIng and tinHnciul rel'ortlng troatlllent applIed by the difforont funds ie based on their lIIeaSU~elllent fOcllll, which dete~mines when ~ovenues and exponditures lire' rocognlzed, ' Governmental Fund 1'vpos .. Theile funds aro accountod fo~ ull/ng II "cu~~ont fInancIal ~osOUrcea" measu~ement focue (a modIfied nccrual baslR of nccountlng), .. ReVenUeR are reco~dod when suscopt/ble to Hccrual (both lIIensu~ab~o and available), /lvaIlable lIIenns collectod wIthIn the currsnt period o~ aoon onough therollftel' to pny current UabLlit/ea, '_I ~xpenditu~ell are generally ~ecognized when tho relatod tund lIabIlity ill Incu~rod. ExceptIons to th/ll gone~al rule Include p~lnc/plll and Inte~ellt on general long-terlll debt whIch Is (eCOln/zed when duo, Pillbllrllomentll fo~ Invnntory typo ItolllR and 'p~ul'/I/d oxponsoll a~e considored expend/turos lit thu tIme of purchnll~, , ll. - (:AMI' JIlI.I, ~ClIllOJ.. lHWl'llIC'l' Nl)'l'liH '1'0 f,'IN/lNCI/lI, 6'l'/ln:ti~N'1'8 (Clll1t'I\,) JlIN~: ')0, 1'J')7 '" 2, SUlIIlIIll~Y <)1' Hlglllt'lcllllt lICC'llllltlll~. pollcl<lH (Collt'I\,) allHls of HCC<)lIl1~lllg (Collt'd.l fLduclllry F<lI11\ '1'vP.I!!i :1 'rrllst und /lgol)cy FUIIL\a lire clIHtCJI\llll 111 nuturu (linnets equlIl UahlUtlea) and do not lnvolvo IIl<1l1BUrelllollt of resuLts of opurutlons, Those funds are Ilccounted f'H' III ussolltllllly tho) SlllIIe IIII1lHlor as GovornlllDlltlll Funds. VroprLetury Flmd Types ,,') The f'o II 1\ So~vlce Fund usos tho "now of ecollomLc ~osou~cos" 1II0aSlIrelllunt focua, whIch la II IIlol\Lflod Ilccrullll11othCJI\ of IIccounting, except thut oqulplllent usod In the operutlons of tho l'ood Sorvlco f,'urd lire Includod uS pal't of the Gullerul Fixed /lssota lJi'oup of /Ie counts , Acc\lunt o~CJuDli ,) allildingll, furnlllhings anu equlp/llunt IIro i'ocordod at coet, or at ost~lIated hIstoriclll cost for those Ite/llS for whIch the o~lgInlll cost is unknown, DepreclatLon Ls nCJt COlllputou on these assets, J..CJng-ter/ll debt Is offset by 111I ,1/11ount to be p~ovl.ded by futu~e tllxlItion o~ other revenue sou~ceH. Genoral ohllgatlon bonus payable in futu~e yell~s 1l~0 rocorded liB lHst~ict debt. Interest on those bonds is ~ecdrded when such Interest Is due, I..) ." Componlllltsd absences (those fo~ whIch employees roceive pay) are ~ocordod udng tho termInation payment lIIothod, /I LLablllty III recordou through the uso of estLlIIlItes whIch apply historlclll data to cu~ront factorll. The Dlst~Lct 1II111ntalna recordll of unused leavo and applIell the cont~actod rate fo~ ollll'loyeos elIgIble fo~ te~1II1nlltion payments, The DIstrict aLLows only ~est~lctedeabblltlcal loave and therofore hilS nCJ record..d 1111bllLty In advance of the llabbatLcal, ... Callh and cash equIvalents Fo~ purposos of the f'ood Sorvlco Fund statelllent of cllsh flows, the DLst~ict conside~s all deposIts purchased wIth lln orlgLnal lII11turlty of th~oe monthll o~ lesn to bo cll,h or Cllllh oqulvalents, ..,) , I.~ . ..J f"l G/lliV HII,J. til:HllOJ. lllS'I'I~ll;T N(n~:6 Tel 1"IN/lNt:1M, S'l'/ln:MlIN'l'H (G')llt' tl, ) J1JN~:JO, 1'l?l , II . 2, SUill'Mry of sll.!nll'J.cllIlt nucollntlnl.! pnllclulI (Gont'd,) /ludg., ts 'l'ho DLstrlct ndol'ta, prl.'H' to tltl1 bOl.!lnnlnl.! of "liCit naclIl yonr. nil /lIl11ulIl bud/lot fQ~ tho Gono~al l"und alld /lthlotLu Fund. /I part of tltlll budgot pr,)cl1lls ls tlto ndoptIon of lCJcnl tnx ~'ntes. IllihJoct to vn~lous legal ~'ustrlctlotlll, '1'1to DIlltrLct approvos sUbllo'luent budgot ruvllllons (prlilln~'I ly t~'nll,~fo~1I b,otwoon oxpo,)dLtu~e r.ategOrles) nil noceasn~y, lImlsod IIpp~oprlntions lIxpL~'o nt tlto ond of onch yoar, /locauso tho llLstrlct dId nCJt adopt n blldgot for IILL Spodlll IlevollllO Funds, tho nctulll-to-blldg"t cOlllpnrlson fCJ~ Spednl ~evenuu Funds contillnlJ lnfonllntlon fo~ tho /lthletlc Fund <H11y. ~ovonuo - Local aourclIs ') ~elll ostato, per uapltH, ~ollLdunco nnd CJccupntlon tnXl1S nro lovled all of July 1 wIth a legal, onfo~ceabl" cLnlill n!lnlnst the taxpayor nnd/o~' property, l'hoae taxoll a~e recogni~lIble all cU~ront ~evonue when ~ecaLved by tho DIstrIct durIng the fIsclll yea~ Hnd alsCJ estiillnted to be receIved by tho llIstrIct withil] siHty' days IIfte~ the close of the fiscnl yenr, /llIIounte estlmllted to be received between sIxty dllYs Ilnd one yon~ Ilfte~ tho Ilnd of tho fLscal yoar are ~scorded 1111 defe~rod ~evenue, /In nllowanco for uncollectLble" Is rocorded fo~ taxon estLmated not to be colloctlbLe wlthLn ono yoa~ nfto~ tho ond of tho flscnl yell~. ) ather tax ~evllnues. IncludIng tnxpayer.aaseSllod ~'Ilvcnues such na ollrned Incollle taxes, a~o recognL~od as revonllll whon rocoived durln8. tho fIscal yoa~ or soon ehough thereafto~ to be susceptLblo to ilccrunl. l\evenue - State sources \.1 State subsLdies due the OI"trlct 1111 current fLscal year entItlements are ~ecogni~od as ~eVenus In the cu~rent fIllcnl yoar. subsLdles er grants ~eceIved In advance of the ~elated expendItures aN deferred untll lluCh expenditu~es are incurred, ~eVenue - Federal sources \J Fede~1I1 prog~alll funds appl1cablll to oxpendltures Eo~ tho Bnllle prog~alll In the current fLscal Yea~ but expocted to be ~ece lved In the next fiscal yea~ are accruod all cUr~ent ~evonue. ./ .J, " CNiI' Illl,l, SClll)IH, PIWI'lllG'1' NOn:s '1'0 FIN/lNCI/ll. S'L'/lTEl'IENTS (C;l)llt'd,) ,ll1N~:ll), 1'l')7 2, Summllry of ~lgllHlcllIlt IIccoulltlllg p',llclos (Collt'<I,) POII~Lon plnn SlIbstllntLally nll ~IILl.tlJ11o IlIld pnrt.tLlllo olllployoos of tho lHstrIct pa~tI..lpjltu In n cout'llhndnl\ 1II111tIplo oJllplCJY"~' duf,LlIlld hunof,Lt ponllLl)ll pll1n. 'l'ho DIlltrLct IJIII)lelllOntod G/lSI\ Stntolllont ~1I, ~7, /lccllllntLnl\ fllr l'OllsL11lla hy Stoto IlIldl,oClll C)ovornJllontlll ~:lIIpl1)yors, In tho yunl' on,lod JIIllO 30, 1')9/. 'L'hnt Stntolllont ~'u'llllrou 1111 OlllPl11yor thllt pnrtIdpntllll III 1IlICll a pint! tCJ rocll~,nlv.u nlHlulll pOIl~llHl oxpendI ture~ or llXpUnlll1S ellllnl tl' l tll ,'onQ'IIC tUlllly 'I:ollul ~od Clllltr lbut 1l)1l~, subjllct tll tho lIIodLf.llld nccf'unl illl~l~ Ill' IIccIl1llltlng In BOVonllll11ntnl ~ulldll, Inter'l'und t~lInsactIol~ Ji:xpenditllroS by the Gonerlll fund fo~ tho bOllefLt of otho~ l'und~ IIro ~ofLecto<l In the runpoctlvo Iltnteillollts of revollllO Imd oxpendLtu~es/oxponses, bllnod CJn lIIanagemont's ostlmates, l'ho PLst~lct doos not aCtompt to allocato 1111 co~te WhIch benet-It the othe~ fllnds <Iuo to tho dLff1clIltIolI IIssocIntod "lith tho lIIeasu~omont CJf Illlch benoflt~, ') 3, Cash and invostlllents l'ho DistrIct's caeh IInd clI~h equlvalentn conlllnt ofca~h balances deposLto<l In Hnancial instItuqonn alld ropurchnse ag~eemollts purcha~od by the Plst~lct from the financllll InlltltutIonll an part of n canh managelllellt IICcount, In additIon, tho DLstrict has pCJole<lllquLd Involltlllont accoullte "Ihlch a~o Invested In qUlIllHed aocuritLoll through tho Vennsylvanla l'reasury INVES1' PrograJII and tho 'rrust Dopa~tmont of local fLnanclal InstLtutIon~, Tho cllllh and cash eqlllvlllentn at Juno 313, 1997 arll ') '.,J Change fundn Innured (FOIC) Collateral hold Ln the DistrLct'n nllme Collateral not held Ln tho OIntrlct's neme Pooled lIquLd accounts Total \J Investments at June 30, 1997 aro liS follo"lB i Oauph Ln Dopod t Bank IIlld TI'IIS t, cortLfLcllto of doposlt Pennsylvnllla Trenlluro~'/I INVEST Prog~alll f.o~ Local Gove~nmsntfl , I Total , 11. ' ClltogorLv.od as foLlo"le i Gnl'rylng /lank Value Balsnco $ 365 $ 1137,039 107,029 303,2"'1 362,551 38.ill 38.1161 $ 1.1.9,28) $ 508.0/.1 $ 995,187 l .627.881. e 2.623.071 ,', ') ,) t"J IJ IJ ..) 1;/lHl' IIll.I, ~CII()OJ. III s'l'I\lC'l' NllTI';s TO l"LN/lNGl/ll, H'l'/ln:Hml'~ (Cllnt'd) JlJNf,: 30, 1<)'17 3. Gllah nlld 1l1vca tlllullta (CIlIIt' <l, ) l'ho ~J\Vcatlllonts, wh')HC IIIn~l(et VIlluu npp~l)xllllntua cout due tll tho Sh')~t'te~mlllltu~u of the lllvolltmolltn, II~U clltu!\on~od ns foLLow~1 Illsu~ed (!'lllG) CoLLnterlll huld In thu lllst~lct'll nlllllo CoLlntataL not heLd In thu DIatrLct'a nnlllu $ 11)0 I 0013 8<) 5, 1~ I 995,187 W1.W1lA 'ooled lnvostlllents Tot/Il 9 2.623.071 'l'hll types of IIUthlld~od ll1vuljtmonts nre LLmlto<l by Statu reguLntIona, Invostlllel1t poLLdos foLLowed dll~ing the yon~ <lId not dgniflenntly 1I1tur tho catogoti~atIcl1 of Investlllents shown nbovu. 4. poLInquont taXes receIvable /Is oxpLainod In Note 2, tHxes are tocq~dod as ~ovenuo only whon recolvod, or, In the caso of doLLnquel)t ~eaL estato taxos, nvaLLable wlthIII sixty day II , The temainlng balanooof deLLl1lJuont tn~ell ~llceIvablo a~e ~eeotde~ ns deh~~ed revoilUe in accordance with school nccountLng policIeo, Deferred tnx revonue amounted to $ 222,3013 at JUliO 30, 1997, PeLLnlJuollt taxos ~'ocelvable ns ~'ofloctsd on tho June 30, 1996 baLanco nheetconlllut of the followlngl I!l.W 1\0aL EstQt~ Personal $ 89,585 15,1316 26,787 119,359 1,4, 3~5 713,167 76,131.3 1116. 8~~ 5L8,L 5 (441. 339) $ 76.786 1989 and ptIo~ yea~s L990.91 L991,92 L992.93 1993.9/1 199/.-95 1995.96 1996.97 $ 89,585 ~ 15,,016 26,787 119,359 ",.,579 7 3, 211~ 139,735 231.9a 6713,215 211. 3,07~ 63 I 692 85.108 L52,a9Q I.oos I /lL Lowllnee for uncoLLectlblos (MI.. 381) (3 ,all?) Total $ 225.8311 $ lI.9.0tul , 15 ' I 1'''1 I C/II'lI' 1IIl,l, tiC/IOlH. IllS'l'lnC'l' tlO'n:6 'l'() J;'lN/lNGI/II. H'l'/ln:MI\N'l'ti (C<lIlt'd,) JlIN~~ 30, 19'17 5, l.u/lns rocoIv/lblu ' ~'oljltod p"~tlou , J.O/lJ)s ~l,lc"Iv"blll f~(llll l~olut"d pllnllltl lit JIIIlIl 3ll, 1'J'Jl u~o ua ful111WSI FU~lIIe~ Suporllltondollt Glllllp HlLl aUJ)d IlO(lutonj $ 2(),OaO 11.,1325 'futal $ 3/..025 ('t Ao pllrt of an iJ)uu~ancu bonofIt, the llLotrlct udvllnood II tutlll of $ 25,1300 toward tho p~elllIulIIs of !I Hfe lnllu~'Ill)CO puHcy 011 tho fOr'"I1~ supo~Lntendent, thio nOI1Lntll~OSt pondng IldvllJ)C" Ls scheduled to bo ~opllld llVllr tho next fou~ YOllro, 'l'ho advancll Ls colll1terllLl~od by 1111 IIsllIgl1I11OJ)t of tho l'oHcy to tho DIstrict, In 1996, the lllstdct purchasod II trucl( fo~' UIIO by the CIlIllP IlLl 1 lland aooote~1l at a cost of $ 16,5130, Ill1d hllo agrood t'l Ildvllw:e up tCJ $ 2,13130 in IlddItlollal funds for LlllprovOlllento to the truck. The allnd aoooters are to repay at least 15% of the totlll IldVlInCO nnnually uJ)tli thIs 111to~est-f~oo loan Is ~opaid, /I pllYlllent of $ 2,475 WilD receIved dU~~llg 1996.97, 6, Goneral Fixed /looota '.J /I sUlllllla~y of the chllJ)geo LI1 tl1e Genorlll Flxed /lsoota fo~' the yoa~ ended JUl10 313, 1997 10 no fol1CJwsI "t aoglnnLng li:nd of Yellr IncrenRoll Docl."cnsen of Yenr J..and and buildings $ 1..959,772 $ -0- $ ,a- $ 11,959,772 Fu~nIllhingo and equLpment .w.9.2.Jlll 1 . 51113. 9.ll ,a- 2,7119.952 To tal $ 6.168.793 $ 1.5/.0.93~ $ ~o - $ 7.709,72/. \ii' '..I .J 16 I 1 Ie .J 1\ ) G/lMl' 1IlJ..~. SCIIOQ~. llIS'l'JllC'~' NQ'l'~:~ l'o l"IN/lNGI/lJ. Wl'/ln:H~:N1'~ (Gollt I d,) JlINJ;: 30, L?97 1, Gune~'nL ohLLgntl'lIl Il<lndll pnynhlo /I eUlIlIlIM'Y of cI)l\l\l\o~ In gOllornl ohll~,ntl()1l honda pl\Yl\hlu f"J.' tho Yfl/H' ol\dod JUlIO 313, ~9'J7 III 1\1\ fCJLl')WIII /leglnnLng <1f Yel\r ^ddlt~<111U l'nYIII"l\ts I\nd <lthuJ,' D0l1l:0llfJOti J;:nd <If YQI\~ GonoJ.'1I1 Qb LLgat lOll /lands, Berioa of 1993, inte~oat ratos 3,1\ to 5.7' $ 3, c)8 5, aaC) $ .Q. $ 265,0013 $ 2,820,01l0 .1 GonQ~al QbLLgatLon /londs, BQ~Io~ of L996, Intoroat, ratos 4,1\ to 5,55' Total -0- 2....~ 7 5 , allO -a- 2,375.ll.Il.U G 3.085.9oq ~ 2.375.000 $ _ ~ 65 , 000 ~ 5. 195.000 ) EHoctLvo /lugust 15, 1996\ the OilltJ.'Lct Illsuod $ 2,375,000 of GOl\o~I\L abLLgatLon /londe, SorIes of 1996, T)e bond proceods aro boLng unod to fLnance ~enovatIol\s IInd IlIIprovelllonts to exLstlng faclLltloll of the DIstJ:lct, to pu~chllse and instllLl. now tochnoLogy for tho Plst~lct, /lnd to pay tho bond Lasul\nao COlltll, The bondll IIIl1turo in varIous alllounts fJ.'olll 1998 th~ough 213113 and bel\r Lnto~eat at annual rlltos ~angIng f~OIll II. la, to 5,55\, I,.J '.J BchaduLod debt llervLce J,'oqulrelllenta /I~O all fo LLowlI I SerLes of 1993 Serles of 1996 hlu: :l'.lW1.J. f);J.n.!iliul.l Illto~oUJ;. VrlncLpnl Into~ost L997-1998 $ 561,685 $ 275,13013 $ 1115,3813 9 15,131313 $ p6,305 L998-~999 563,9713 290,01313 133,2813 15,131313 L25,690 1999-213130 56/1,7133 '3135,13130 119,650 15,13130 125,1353 2QOa-20aL 561,,0913 3:113,13130 1131',7135 l5,QQO 121.,385 2aoL-20a2 562,392 335,0013 88,7115 15,13013 123,687 20132-213137 2,825,1375 l,295,aOO 166,al.3 7113, t)ao 593,232 20137-20113 1.699.a63 L. 5313 .000 169,563 $ 7.)/.t.778 $ 2.820.000 $ 758 i 563 $ 2.375.000 $ 1. 388.215 ,j .J , 11 - '-,) , I"l GMil' 1111.1. HClII)IJl, IllS'l'IllCT NllTJ::H TO l"lN/lNCL/Il, S'l'/I'I'EH~:N'l'S (ClHlt'd.) ,11IN~: 'jll, l'I'J/ 6, CapItal luaso oblLgHtiona 'l'ho llLnt~'(ct h"n unt"~lld intn tWn ""pita) luMI" agl:eulllullts for tho nn"ncLng qf co~taIn 1'10c06 of O'IlIlp"'''IIl:, /I slllllllla~y 'If thullo Ilg~oolllulltll Ilnll the lIIinIlllulII 10116U paYlllontll thu~oun at .IlHlo 30,1')1)7 LII ,.11 follCJwIII -MMlllulII Illanu l'Il.l!JJJ!lJ.)S!i- 1."<lIIU rll l,Qaso II~ (Ph')t'Hloplor) 1C9mpll.!;..!l.J.:.tll :wu lWll 1997.98 9 1998-99 'l'otal 1II1llIIIIll111 leaso l'aYllluntll J..elllll /IIliounts ~'uIH'eselltlng inte~'eat Vrellent v<lll1u of IIILnlmulII Leana paymunts $ 9, Ope~ating loanos ~,/I 13 201 $ 22,951 22.951 9 25,3611 23,152 1.8,5 l6 2, (Ill. I.S,902 l72 1..9'\0 5,102 2,1.'.2 $ 1.0,972 $ 1.3.41/. l'he DIstrict has ontored into sevor<ll slll<lll operatIng 16bse IIgroolllentll Ln whIch it han ag~ood to leane certaIn nlll<lll pIncoll of oquIplllont fo~ vn~loun 10ngthe of timo, Tho ag~eemonts contain v<lrious terlllinntIon and "leaae ,up" trade. In p~ovisions whLch could allow the OIntrIct to offectlvoly chango the te~me qf the ag~oemonts, In additlon, the OIstrLct is leHslng modula~ class~ooms undo~ sho~t. te~m 10ase agroementn, Total operatIng lease plIymentll included Ln GOlle~al Fund exponditures fo~ the yenr ended Juno 30, 1997 allloUnted to $ 51',907. Hinl.lllumleaso cOlllmitmentn for futuru yearn, asslllllLng no voluntary termlnatLons, are as follows at Juno 30, 1997: J 1997-98 1996-99 1999.213130 2aaa-2aOl $ 24,9113 22,211 22,211 111.995 Total 9 8/.,360 ,) IJ . 18 . :J ", GiIt,,1' 1111,1, HCllolH. lHH'l'IllGT NOn:H TO l'lN/\NCIM. HT/lTEH~:N,[,H (Collt'd,) ,JlJNI\ 3l), l'J'J7 10, COlnllUllalltlld IIhsonl,oll At Junu 3t), l'!'!!, tit" lJ"l\u~1I1 l,'lIl1'.''['UrllI l)uht lIr11llp Ill" ACCllllJlt" 1l\cLudUH II Liabll1ty for "ulllpulI"lItu,1 IIbHlIlIcua 'Il" $ 2111,175. 1'1I.YlllulItH bll' cOlllpulIalltod abaullllus IIro IIIl1dll tlt~ou/l.1t liulIurlll l'lllld IIxpolldlturoll III l'hu 'yOIl~' tllo IIhsol\co la uaull ur tho ulllpluYOll rutl~'lIll, Wltoll 'Ill ')lIIpluyuo ~'otlr"", th" llllltdct's JlIlYlIut polley wlth l:ol\lH'd to "lIeh typo "f ulluH"d 1I111111HII1HIltlld IIhlll)l\l'" III 1111 fol101l1l1 ~:lIIurBullcy IIl\d pu~"olllll . 110 PIIYlIut rU'llll~od, VIIClltloll (lIdllllllIstrntlvo pu~aolll)UlolIly) - 1II1ulI,,,1 VII':lItLoll dnys (not to oxcoud 5 dllya) lire plIld lit tlto tLlllo CJ[ 1I11PIIl'iltICJI\, 'J SLcknell1l - II rotLrLIll!, omployulI rCJcelvell I'nYIIIUl\t for ul\usod acculllulntod /llcl< dnys doto~mllled 1111 II po~'cont of alllltltltute tellchors' Ilo~ dl')1II ~lItc for p~ofulIslonlll /ltllff IIl1d II po~cont of pe~' dlolll /l1I111ry ~lIto fCJr BUllpllrt /ltllff, both bllsed 011 the nUlllbe~ of YOII~'S of ao~vlce to the Plstd.,t IIp to II 1I111~LIIIUIII of 2713 dllYs and 55\ of the Ilo~ dlelll IIl110unt, oJ ItotLroll1ent wLth l5 o~ 1II0re yell~1I of so~vlco ~Qtl~Illg profo/lsLollnl olllploy"OS wlth lit lellst 30 yonrs of o~porLollco includLng nt lunst 15 yenrs CJf contlnuoua ful1-tllllo elllploYlllent with the Pl/ltrlct nre ontltlod to II rotl~'olllol1t incentlve pllYIIIOl1t of betweon $ 5,13013 IInd $ 10,000 dopolldIn6 on total yoars CJf oxporlel1co, !if Chnngea Ln cOll1llonsllted IIbaOllcoa wern ns follows: .July l, 1996 Not ChnllJl.!). Jtlne 313. 1997 . VacatLon $ 5, l21. l\etLrement bonuae a 16,Onl) SIck leave 1~1.,610 $ 275.71.'. $ 2,5213 $ 8,000 (11..289) 7,9i111 21.,13013 2313 , 331 $ (L'L/.69) $ 262.275 v ..J , I'! ' ,I . .._,._'~ ,\ ... .~. l:t\I'II' III 1.1, ~1;1Il)lll, III ~TllJ':'I' /'Il)'I'I':S '1'1) FIN/lNI;I/ll, WI'II'n:m':N'I'ri (l;"lIt'd,) ,/lINI': 'Ill, 1'1'11 LL, PlllllllolI plll1l 'l'ho llIHt~'lct 1:l)lltrl,IlQtuu II) II P.l)VUI'IIIJlulIllll "UHI'lIll1lrlllp, 1II't1,llplu'olJlpl<lYo~ dofJl1od bOl1ot'lt pOI1Slllll pl/lll /ldIllLIIIIIl:llnlll hy Ih" I'lll1llllylvIIIIIII ~cJl')l'll\lIIplQyuell Ilotlrolllollt systolll (i'SEIlH). llol1"nt 11I'l)vlull)I1H lit tllo pl/III II~U l/Hl:/lbllllhod ulldo~' tho p~l)vIHI'lIIH "f tho Pri~:IIS C<ldu (th.. G'ld..) IIl1d IIII1Y hl/ 1I11111lldud hy 1111 Ilct of tho L'ellllsylv/IIliH ~tllto l,"p,Illll1tlH'O, 'l'hu 1It/lll prllvId,," ~utlrulII"llt, dIllllblLIty IIl1d dOllth bOlletltH, 11lglal11tlvoly IJI/llld/ltll' lid h<lc cOHt",t', L1vlllg IIdjustlllontH, IIlld hO/llthclI~o IIIHU~'IIIlCU j1~'OIllIQIll IIllallllllll"" l:" '1'"11It'ylllp, pll1l1 lIIolllbe~s IInd hOl1ondll~'IoH, It 'Illlll prll~ldllll fur l'ufullds CJf /I mOlllllor'a lIcculllulotod 'contrlbutlQIl "1"111 tonJlIlliltlQII l)f 'I lIIi)lIIlllH"H Ulllpll)Ylllullt III tho pllblLc ijchOQl SOC tQ~, 1'r;~:IIS IHIIIIOS II pub 1 le! y IIVIII Il1h 111 f1IlI1I1C lid rop'H't thllt Includos flnanullll stlltolllolltH fCJ~ tllu Pll1ll, Thllt ~utl')I't IIII1Y h" "htlllllod hy w~ltlng to JlSEI\S, V,O, Uo~ 125, llllrrlllburg, PI\ 17l0U,O 25, I I 1 I I I 'l'ho uQntdhutltlll j1<llLcy Is sot by tho C<ldo IInd ~o'lQI~oll cl)lltdbutlons by active elllployeQs lInd by pll~tlclpiltlllg olllployu~'H, P1IIIlIII'll11bo~'H lI~o l'ullul~od to contribute 5,25 pU~'collt CJf thuI~ UCJlllpullalltloll If l:huy joInod tho plllll bofCJro July 22, 1983, alld 6,,25 pu~cunt If th"y j<llllod 011 o~' nftor thllt dllto, Tho uOl1tdblltIol1s relJul~ed of pllrtlciplltll1l1 empll)yurll ls bllsod 011 1111 llceullda), VlllulltLolI IIlld Is expressed as a l'e~collta!\e CJf nllllulIl covo~ud pllYI'l)ll du~'lng tho po~lod fo~ whIch tho lIlIIOUnt Is detorlllInod, Uofo~o ,July l, ll)95, dlatrllllS MId tho CO/llliIl)lIwoillth sha~ed the ulllpLoye~ cOllt~'lbutlon ~'lIte U'IIIIILLy. Hll1c" JQly 1, 1995, dlatdctll IIro requlrod ~o PIlY tho Illltlre olllpl'1yor CCJlltrlhutloll ~lIto IIl1d ll~e rollllbul:sod by tho OOllllllonwealth 111 nil nlllOllt\t e'lllnl to tho CQIIIIIICJl1wenlth' 0 shll~e ns doterminBd by the Incolllo aId ~ntlo (nil deflned Ln /let ~9 of L9%), whl,~h Is nt lanllt ot\erhnlf of the tCJtlll olilployo~ ~lIto, Tho llIatl'lct'H uont~lbullol1s to V5EIlS for the yon~1l endIng .June 313, 191)7, 1996 nlld 1995 Wuru $ 531,216, $ 568,l96 nnd $ 257,023, ~espoctLveLy, 1'hQOO Illllounts Il~O oqlllll tCJ tho rO'lIlI~od contrlbutIon for ollch yea~, 'J The Olllt~lct dote~lIIinod thnt undor G/\SU Stllte/llont No, 27, /lccountil1g ~o~ hndonll by Stnto and Local Govornllll'llltnl ~lIIploye~s, thoro loins no ponololl llablllty (/lsut) nt trllt\sitlon, l'hore IILso wlln no ponHlon Llnbll1ty (lIsset) bofo~e transitIon to GASU S tatelllollt No. 27, J 12, ~olltomploYlllont bonefIts other thllll ponalonu Tbe Olst~lct'll llot\t~'nct with tho Cllmp HlLl fidllcntloll Aesocllltion and It/l compenslltlQn pll1ll for ndmInlstrllto~a p~ovlde fCJr pontemploYlllont bll/lltl1 anel hospItaLl~atlon l1enofltn for ful1,tlmo telluho~s nlld IldllllnLat~'ators who have 25 o~ mo~e yoa~s of sorvlco with the IllstL"lct, 1'ho henoflt 10 paId by tl1e 01strlct towlI~d tho rotll'oes' he.llth InSllrnncu p~"IIII11m ~nnglnl:l fNIII $ 7513 to $ L,QOQ ~er YO/l~ pe~ ~etl~oe for a perIod of 2 to 7 YOllrll, Uoth thll cont~lb\l);lon /lmClunt ",,,d tho nUlllbe~ of yon~1I of paymol1t dupol1da on the rotlruen' YOllrs of se~vlc., T,he " (I l1enofLt ~s pllld ollly lllltll tbo ye/n' In whluh tho rlltl~oe III eligIble fl)~ fU~~ sQclal securIty bonoflts, 'tho Olstrlct Clnllllcos thIs 110\)Oflt "11 n pnY'/lR-YOll'I\CJ hnslll, For tl10 yea~~"el.~' June 313, 1997, tho~o Wo~'e nlno ~otL~lllltl ~lIcol'lll\!\ chlll bOlleClt nt a tl)tal Cl)st t~' tho Olst~lct of $ A,~~O, I,.) , 21) . ,,) ". I I, I i I CNIl' III Ll. oClIOOl. III ti'l'lW:T NOn:S 'l'O FlN/lNC1/lL S'l'An:l'mWl'o (C(Hlt'd,) Jlm~: 3l), 1<)<)7 13, Inter' ~und t~lH)sfu~H qeno~Jll f,'ul1d oxpondltul'us l'ldudu llltur- fund t~IIIIHfunl <l,f $ Clijl) , 106 sUllllllllrl~od 1111 fCJllowsl , ) /lthlotlc 1"ulld >>lIlId UnHorlll f,'unJ COJlItal l'roJocts Vund l'olld ServIce (non,cllah trulIsfora) $ 7 '), oaC) 3,OaC) 5(,("OCl7 31\ I O~l) Total $ 680 1106 14, R1Qk IImllagOlllent ,I Tho Dietrlct lQ expo Qed to vadCJua ~'Isl(Q of looa I:elatod to tortQ! theft of, dlllllage to, nnd deatructIon of ooaotal o~rors and olllIsQlonsl inJurloll to BIIIPloYOOllI and natu~1I1 dlaaste~'o, The D1Qtrlct molntalnQ cOllllllordol Lnllurllnce oovorage cove~ing each of thoae rlsl(a CJf loas, Managemont bollovea such coverage Is Ilufficient to p~eclude allY oLgnlflcallt unlnQurod lOQses to tho lllQt~lct, Settled claIms have not oxceoded thIa comlllorclal cove~aBo In any of the past th~ee fillcaL yea~s, ) l'o~ purposes of unell~loYlllent cOlIIl'onaotion lalls, the 01~t~lct has ~locted not to be covored by the Vennsylvllnla UnemploYlllent COlllpenslltl(JI) (,'und, /lny unemployment cLa~1I1l are pnld by the Dllltrlct on 0 quarterly ballls na Incu~red, The Dillt~ict ill a lIIembe~ of a group of School Dillt~icts who havo jolnod togothel: to Ilelf. insure their WOl:ke~s I compenslltion QxpOIlU~e, 'l'~e DIst~iot paYIl anl1l,1a~ cOl1tribut~onll to the group basod on a fo~mula utIII~ing the Dillt~ict'lI own claim eXperience ond annual payrolL. ClalmQ in oxceQIl of tho District' II I:etelltloh Bxperlence a~e pnld by II Central Fund within tho group ond, if necessai:Y, by an Insurance company carrying oxcells UabLlity coverllge, ,/ L5, OOllunltmentll and contlngendes Tho coLlectLVe bargalnlllg ngroelllont botween the Olat~lct and the teachlni ata~~ is effective for the pe~lod July 1, 1996 th~ough Jlme 30, 20130, III tho no~mal courQO of buslnoso, tho DistrIct is subjeot to Leglll dis~utes al\d cLnLms, The DIstrIct ,does not nntIclpato any mato~ial Losses ~I:om llny p,lnd4i)1I o~ throatencd lItigation.' , i.L ' ( 'J '1"- . 1-, I I I I C/lMI' IIUJ. HClluoL lHH'I'lllG'l' NUT~:H 'I'U I'lN/lNl:t^I, H'1'/ln:H~:N'l'H (c;llllt '<I,) ,llIN~: 'll), 1')'11 15, COllllllitlllonts 11I1<1 Cl'lltlll~OIl"Lon (Gllllt'd,) In tho 1I0~1II/ll l:llll~no llt' JH"OlllH'lll/b till.' thll nllhso'l"lollt nchllol Y"llr, tho lHntl'lct IHIIl Ilwll~dod hlds fll~ VllrlllllH Sllpptl.l'>I, fllOl Cllllt~'llctu, Otll, Nil IIIIlJ[)l: "O'I1I11Itlllollts III OXUVH'I of ~'llUtlllll rllll"lh'olllolltll hnvo hOllll IlIllllu hy thl) lHHtl."Ict, The DIst~lct p/H'tldplltlln III IllIIllOl."OllU nt/lto nlld fodu~1l1 111'/Hlt P~"<lIl~UIIIS whluh M"O govorned by VlldllllU ~llluu Illld l."ll/!,llllltlllIlS of tho ~,rnlll:[lI.' Il/!,<lllclun. Costa uhnl."llod to tho ~-oapoctlvo /!,~'Illll: prOlll'lllllS M'Il sllhJect to Iludlt nlld ~"<lvluw by the grnllto~' agencLGs I tho ~OfIH"U, IlIlY fllllHlIllS llL' 1H1J llstlllontH hy thu 1l~"lllltor allollc ion cOllld havG un Gffo..: t CJIl tho ~oco~ded llrllnl:a ~oco l vol! lG Illld/r)r do Eo n"od grllllt revonuos, IInd 011 thu ru lotod gl",llIt rGVUlIllOa 1111<1 uxpolldltllron, 16, nlldget vHriHncll ) , ) Durlllg thu 191)5'96 YUH~', thu IHst~lct blldgotod fell: 0 gunorlll fund oxpolldituro of Ilpprollllllatoly ~ 'l'Jl,l)UO fur the pll~'chllnu of cOlIIl'uturn and rllll1ted o'luiplllont as P'H-t of tho Dlsn'lct'n technCJlollY plol1, llllO to I011lll ~estl"Ictions and other delays, tho IIctUol pllr'lhllsu of thuso "CJlllpllto~'S \IlIn I\ot III II de untIL /lugust 1996, In addition, ill MIlY of 1996, tho lllutdct ~ocolvod II $ 50,000 l'aYlllent fl'olll the COlnlllonwealth of ~lol1l1sylvllnlll whlch Wlla duferrud Into thu 19'16,97 yoar, l'ho ~osult of thello do lays IntCJ the Cllrront hudBut YGa~ Willi to 1l1u~0llse tho boginning fund balance at Jllly I, 1996 by IlI'P~oxilllntuly ~ 365,13013 ovor the alllount oJ:1ginnUy bUdgGted, nlld to lllcrGnsU total eXPOI1[lltllres nnd Ilthe~' flllllncLng uaes by approxllllately $ 1.1, 1, 0130 over the III1111Ul\l: orIglna lly I)ud/!,a ted, Tho purchase CJf the Clllllputel:s Is reflucted ill the gGIIG~1I1 fund as pa~t of thG h'terfund t~onsfers out to tho Cllpltal ProJoct l.'und. ,:J y ,~ lJ - ~2 ' t. I 'I , \ . . . . . , I . o