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HomeMy WebLinkAbout97-06213 i '~ ~ ~, .:4 '~', ' ",'1",\ ;i~' . ~ A I " t' ,!, ....;. . .. ..t) ,-- ~ , ~' 1 -..), I I " I, ", '\ 11"-,' '~ .~ 'i II " I,' I.'I !~. "4 J ',~ :1" ~lf ,".\ " ,I Ii} .i, ,', r " '1 '"ii '" '" ... '.. . . . . . 9 "I ~ "':J.I J e, ~,n 7i'l. 1'-/ HEC1I/lN!CSIlUIHI MIE/I sCllaoJ, IHS'l'lllC'l' H~:CIIAN ICSllll/lG, l'ENNSYI.v/lNlA JlIN~: 313, 1997 (l ~(J.vrct!lfmmll .~ dill/Pili/II, I~ (': (I, "lflr",1 ,''1/(,(1", ,t.V:"Oflft,f"';'/ '" ,-, .'.\ n H~O/lAl'II08/lUlW /IlIE/I sCHaOl. PUlnUCi1' HIWH/lNI0811URlI, ~ENN8YJN/lNl^ JIINE 30, 1997 , ) I '-J ~ II l,.J v ( I ,'" ,", .n 1lJ~ ~ In Indopendent audIto~~' ~opo~t CombIned ba~lInco sheot - a~1 fupd typon and aocount groups -' J'uno 313, 1')'17 Comblnod IltatolJlellt at: ~eVenue and oxpendltu~os and ohanges In flmd bdancos - /ll~ Covormllonta~ Fund Typell - YOII~ onded June 313, 1997 ~ 2 ~ 3 Stntomont ot: ~evenuo, oxpendItures and changes In tlll)d balance . budget and actllal . All OOvornlJlonta~ fund Types - YOII~ ondod JUlle 30, 1997 ., Stlltomont of rovonuo, oxponditu~e~ and changes In fund ba~ance . /Ill ~~op~lota~y Fund 'l'ypos yoar ended Juno 313, 1997 Stlltomont of cash nails - /Ill V~[)p~ieta~y fund Typos - yoar endod June 313, ~99J ,Notee to fLnancJ.a~ statolllont~ Juno 313, ~997 5 II Q Supplomenta~y info~matIon 6 7 ~ 7 18 26 . . ., . ~M"QMJ LYON' J~WA I ~ "'fIN. WM,T ;W~ '}"V' AM h~km~ ~, A !I;AWALr ,1',11> I'lliI) A, A r/fl'~ ''''Imlll t.1l1 AI/l 'Q<l~',/~' G~J!N^W^J..l' & eOr~W^NY, p.e. t'lIl1"~Q ~Hllt ACQ~ijH'AHt' f10 a", ~ 400 W,,, M~H 61/lm MlC)'AMIC.~ijN PWHMB\IYm'~ 170tl5 1'IIIIIdO'le.! fA> 17m 1"'111 III wm I'l/ll'rn IJJ/llr r~"w., ~ lmll '"11 /.... I '^' "171 11"111/ ,..., !.till!i l' [':N II ~:WLJ.\!lJ)lJ!JJi!j.!..JiliJ.'.Uln UQard of SchoCJl DL~octorH kochalllcnbu~g /1>011 lichQlll llLnt de t Moch,lIilosburg, POl1nnylvlIllia u \la hllvo alJdLtod tho accolllpllllyll1g l.\ollo~'ll pu~poao n'lIl1ldal ntlltolllolltll ut" HochnllLcsbu~g MOil Scholll OLstdct IIn at" Juno 30, 1991, IIIld ~'Il" tho YOllr tholl UII<lo<l. 'L'huso t"lllllllcIal statolJlonts arB the ronponsLbLllty of the llLstdctl1l 1Il1ll1l1gOIl'"llt, Our L'ollpllllSlbLllty La to nXln'osll an opLnlon or tl1oso t"inllncial st.,tolllal1ts bllllod QII our audIt, ~o cunducted CJur audit LII accQ~dllnco wlth v,olleL'nLLy nc,:opto<l audLting IItl1l1da~ds and the stlllltjnrds applIcable to j;lnancLal nudLts clllltnIII"d III GQVOL'IlIll"'lt /I\ldLtLng StllndaL'ds illsUod by tho COlllptroLLor Genenll CJf the IlnLtod StlltoS. 'l'h'H'" stllndl1rds L-"'I\llra thnt wo pll1n ond peL't"orlll tho lIudIt to obtllIn L'Ollson/lblo i1nIIU~lInllO IIUO\lt whothe~ tho l:lllancLnl IItlltolllents aro f~IlO of lnatorl111 misstl1tomont. /III alldlt IncLudoa OXllllllllll1g, Qn 11 tast basis, ovIdo"co sUppo~tLng tho alllounts and dlsalosuree In tho fInllncLal statemonts, /In lIudit also includoQ assosslng the accountIng pL'IncLplol1 usad IInd SLI.\1I1fLcl111t estllllntos IIIl1d" by lIIanngelllont, as lIoLL as ovalullt ing tho ovarnLL flnllndll 1 s tatll/llOnt pL'onontllt lon, \Ill he LLovo thllt our lIudL t pro'lldos a roasonllble basIn t"o~ our ol'Lnlon, In ou~ opLnlon, the l1acolllp"nylng p,eneral p\l~pono fltlllllcll1l statolllonts pL'osent fai~ly, In all mato~ial ~espects, the flnancL.ll 1'0sltLob of Hochl1nlcshurg MOil School Oist~Lct at Juno 313, 1997, tho ~osultn of Lts eporlltLQnll and tho caah flown oj; lts ['ood Sorvice Fund for the YeoL' then onded in cont"oL'mlty wLth genOL'II1ly accoptod IIccQulltLng prindples, aur audit fo~ the yonr ondod Juno 30 199'/ WIIS crlllductod fOL' tho pu~poso of forming an opInion on the gono~nl pU~poso fIl1ancLlIl stlltemontll of HochnnLcsbllrg Area School OLstrict takon as 11 wl1olo, Tho sllpplQlIlol)ta~y inforllllltlol) Is prosonted fo~ pu~posos of additIol1al al)alyslll and Is not II ~equl~sd pll~t of the gene~1I1 purpose fInnncLal' statements, Such Info~lIIatIol'l has boon subJ ectod to the sllllle lIudltLng l'rocodl.lres aJ1pLLod In the alldi t of tho general pll~poss financLal statolllentll and, Ln O\lr Opl1110n, Is fllIrly stilted ill IILl mate~inl ~espects in ulatlon to tho gOlle~'1I1 l'u~pose fLnlllldlll Iltlltelllontn tll\<an as a whole, I,") n ... . In accordanco with Gove~nlllont AudLtIng Stlllldnrds, wo hllvo 1I1so Lss\led a ~eport datod July 23, 1997, on ou~ conslde~lItlon of Mocl1l1nlcshuL"g A~en School IHntrLct's lnte~lllll cont~ol ovo~ fLlIlInclnl ~eJlortIllg nnd om' tostn CJf lts cOlllpllnnco wlth COL"tIlI'1 J1L'QvLBlons of lows, ~egullltlons, cont~l\cts /lnd 1.\1;lInts. ,.. ~tUtJa.iI. r~.J p, C, GREEN/lW/lL'L' & COMP/lNY, V.c. .-J July 23, 1997 Hochanlcsburg, Ponllllylvnnl.1 l ' \ M~MII"'I$ ... AM~llIcAN 1~~Tlrllr" lit. C~llmlW "iJIII.IC ^wil'NrWr~ . "t:NN~YI.v^NI^ IN~1Il11TP. IIr cP',lrwlP'l) !'IIII'.IC ~CCIIIINT^Nr~ '" IH:I:lli\NICtlIIUlll; /IIt~:/I SClIOl)J. llIS'l'HlC'l' CQMlllN@ 1I/ll.^NIH': sH~;WI' /11.1, FlINI) 'I'YJ'~:S /1m) /l11CQUN'I' lllllllJl'S ,llIN~: It), 11)91 ... G<>VIJ~IJlIIllll.tlll 1IIIIJsLl':lllllll- /lthlotlc Clip I till !1.!UJ1llJlJ. AIlJJUlU.JlJ;J.Ull !la.lLv.t.r.!J);JJ,Illl 1\lJnlJ~vc /lssotll Cllllh IInu ClIsh lI'IUIVIILontu $ 1 , II~'), lill. $ ~l, 11/ $ $ Invul. tilllJntn, n t eCJu t 2, (1)1.,8 ')5 r,IlJ,'J311 l , L 5a, 5011 1)110 ~roill otho ~ ~undll a2,1/c. /lccountn ~1J~oLvllhlo 1I!)6,82t) '), It) 1 7,11.6 Dolln'lulJnt taxoll ~ocoivnhLo (not of allQWllnCe fo~ uncQ~loctlbLIJIl, $ 2L8,957) 372,337 Inventory i'Plporty, ~ll1nt anu e;julplnont /lmllllllt to 0 p~ovIuod tll~ long- tO~i11 doht 'l'otnL $ 5.~/~5,58:)' $ 5.'177 $ 6a6./~39 $ 1.16~.65() l.i'ibLlltios /lec~uod sala~ios ond bono fits $ 1,6311,1.25 $ $ $ /lccountll pllyabLo 25a,886 75 26,3/.8 Poto~red ~ovonuo 23'),867 pue to other funds pUe to Iltudont organizations llonue payabLo , compensatod abllonees ---2713.885 Total llabU i tlell 2,1.131. ,1363 ,0- 75 28.3!&. Fund oqui ty Invelltod in genorllL fixed IIUOts Rotllinod IJII~nings ROllO rvod Unresorved (doflci t) Fund balancos 2.8111.519 5,777 686.3611 1. L37,3a2 TotaL fund equity 2,81.1.519 5.777 686.3611 I.L37,3Q2 Totlll $ 5.2/.5.582 $ 5,77"7 $ 686 .1.3~ $ L.16~.650 Tho accolllpanYlng notoll a~o an IntlJg~nl part of thollo flnllndnl stntolllontll, - 2 \; I 'q ,., l'roprlotll~Y FlducLllrV Fund 1'YlloU FU~ld Tyoe Accuunt Groups FOQd T~u~t and GOne rill GenoJnl 1,011/5' Borvlcb -AiD nil Y ~ctlvltlulI llilld ASIIUtS Torm Deht () $ 53,593 $ ~ L91), JlO $ ~ 59,507 r.1 33,9013 L5/f,aL7 2a,L57,662 .:-, ~ l8,989.870 $ 2/.1.510 $ ,0. $ 258.877 $ 20.l57.662 ~ UL9S9.870 III' $ $ $ $ $ 29,970 82,176 258,877 LL, 1382 ,1359 . 19.511 7,907,811 131. 657 .13- 258.877 -0- 18,989,870 . 20,157,662 L34,5a6 (24,653) . 1139,853. .13- -0- 2Q.L57.61\2 .13. $ 241.510 $ .0- $ 258.877 $ 20.157.662 $ 18.98?870 'i,j .) d 'j." f"l H~:GJli\Nl()~rlllIHI /IlU:/I SGJI()l)f. 1>1Wl'l\lG'1' G()H>>IN~:I) Wl'/ln:Hf.N'l' ()lo' I\Jm:NlI~: Mil> ~:XI'~:NJ)l'I'UIl~:~ /lNI) GJli\N(I~:ij IN "'UNI> ll/ll.i\NGE~ /11.1, GllVI':'tNH~:N'I'/Il, l;'UNI) 'I'YI'ES YE/I~ V.NllHQ JlINE J(), 1991 f~) i\1:hl11tI.; CapIt/ll !J.llll.l!J:.Jl.1 W!l.!Wl.tLlJl G.'.lliJJ.t..nu:.!JJJJl lW>>.J.:Y.l\ Ilovenuo Local HllUl"QDS $ Ii, 51,2, l)I,2 ~ ij!i,lj'}11 $ ')8, 1J68 $ 61, ,1,1.7 Stato HOUrCeH 7,028,MO 11 Fedoral HOUrCDS 151,01'/ l\o~und ll~ pdo~ Yllnrs I OXPOlldl tU~DIl 99 InoolllInl! t~lInsfo"'s 11.1~96. B,OqO Totlll ~ovonuo 211,7)3.171. l2(),6'Jif 38,966 61..1o!I7 r'J Expllnditu~os InstructIon l.~, 7118,7/,9 Support so,..vIcos 6, 77 5,691, Ope~atl11n o~ nonInst~uQtIllnal 0 so~vlcos 58'/,262 Ll5,2Q3 FacLIItIos acquIsitio~, cOl]st~uotLon and Imp~ovelllont Ilervices 21.1,852 217,9B3 Other ~LnllncIllg usos ,1,I,a8,B98 8, ~89 T~anllfers to 0 tho r funds 185,792 .. Totlll exponditu~os 21.,786,395 l15,203 21.1,a52 226,572 ~xcoss (defLoLllncy) of ~evalll.le ovo~ oxpondLtu~os (53,221) 5,1.9l (2132, Bal.) (1/12,125) I . Fund bnlanoo, bogLnlling 2.691.,71.0 2a6 889,2118 1. 299,427 Fund balance, ondLng $ 2.841.. 519 $ 5.777 $ 686. j6/, $ 1. 137 I 302 .. The accompllnyLng notes are nn Lnteg~nl pa~t of thoso fLnanolnl statomonts, \.,I . 3 . {', ,'1, M~:l:II/lNlCtlllllJlO i\ltJ;:/I SC110()1. lH6'l'llIC'1' S'l'/ln~HJlN'l' af' IlF.VENlJll, IlXI'~:NDl'l'lIIIJlS /IN/) clli\N@S IN J'UND "AJ..ANcV. - "1I/)(J~:'l' ANI) /lC'l'U/II. /ILl. GaVEJINHI'Nl'/II. "UNO 'l'YJ'f:S Y~\/lR ~~NOEll JUN~: ')13, 199/ As.t.\ltll ~ovonuo Local sourcos Stato sou~cos Fed"~Al sourcos Ilofund of prior years' expondltu~"s Incoming t~lInsfers $ 17,51.2,062 7,028,MI0 151,071 99 Ll.I.96 To tal revenue 21.,733 .l7l. Expond L tu~es Instruction Suppo~t Ilorvicss aporlltioJ) of nonLnst~uctLonal sorvicell Otho~ fInancLng Ulles Trllnllfors to othor funds l5, 71,6, 71.9 6,775,6911 587,262 1,1188,898 l85.792 ~It, 786,395 Total oxpendLtures Excollll (deficioJ)cy) of ~ovenuo ovor expendituros (53,22l) Fund blllnnco, bogLnning Fund balanco, ondLng .2,8911.7110 GOJlO.wJ, flll)ll 1l.u.!lN.!!!; $ 17,1'18,362 6,876,086 1119, 1.213 ,0- 75.000 21W.JJl.Jill. 15,866,265 6,83/t, 11.3 6133,3811 1,1.88,898 l87. 0913 211. 979,6913 (1.61,122) 2,273,032 . " . Va~Lanco ~'nvo~lIb 10 flJnf.a.:mx.ohJ..v.l. $ l2,1,700 . 152,35/1 1,957 99 (63.501.) 211. , 606 . Ll7,5l6 58,""9 16,l22 .Q. 1. 2138 193,295 ., 1.137 I 901 621. 7aB (, $ 2.841.519 $ 1.811.9LO $ 1.029.609 c"' C.i The accompanying notos are an integral pn~t of those flnancLal atatoments, , I. ' (, llJ/ I~ I At~lo~lc AssoclntIoo V,lrII1JlCII 1l11vll~-ablo /Ie tunl JluQillt (lIl)fIIVll~('~,.L.u.l ~ 85,69/, $ 62,500 $ 2 3 yilt 35, Qoa 115.00Q 1137 ,~aQ . ( LQ,J)ilil) "l L20.69/. 13,1911 o U5,203 1137,5013 (7,7133) U5, 20~ --1,137,5130 (7.703) ... 5,491 -0. 5,1,91 286 -0- 286 $ ~. 717 $ .13- $ 5.777 .. .. " 'J '.,J 1.01 ,. !I II, , ,..l ." ('I r H~:C:H/lNlCllllUM /Il\~:/I IlCH()Ql. llIS'I'IUC:'l' Il'l'/ln:HEN'1' 131" IIEV~:NU~~, i'Xl'ENJll1'Ul\i'1l /lNP CH/lNGEIl IN fUNP IlM.AllCE M.l. l'I\Ol'llIWI'MW VIJNI) 'l'YV~:S Y~:/lR ENllEll JUN~: ~Q, 1')'11 QpQ~'lIting rQvonuo Saloll $ 577,~2k r 1",,(,<1 ~Q~'ylop r..l OporatIng oMpOnSO/l F<lod and !nlLk La~o~ CU/ltodllll] Wagos SUpplio/l and sorvicos L\e~aLrll and !naIntonllnce ,gmployoo hOl}ofIt/l Utilitios Ilnd fUel /ldmlnlllt~ntive salarIos Pop~ociation Totnl operatlng exponsoll 390,1322 H9,138 12,3138 22, alia 2,6if5 122,12/, M,736 7Q,6M 16,183 lJl..Q9 , al.a (I.~2, 722) n .. 'I , Operating Iou Non<lperating rovenue Stllte sources Helll subllldLoll Social Ilocu~ity and ~etlrolJlent subsLdles Fodornl SOurcos Moal Ilubll id10ll Govo~nmont cOlmnodLties Intorost oarnod o rotal nonoporatLng revenuo 21.,835 .l3,217 115 ,/120 56 , l7 5 lQ,aa9 -U'L..lli (193,066) 1513,792 8.589 (33,685) 11.3.538 $ lO9.853 .. L<lsS bofore trllnllfors So~vicoll c<lntributod by Genorlll Fund gquLpment pUrchases by Gapitnl Reserve Fund Net losll . Fund bnlnnce/rotlllnod ollrl)Lnge, boginnlng Fund balance/retaInod ea~nings, ondlng Tho accompllnying notell oro on lntegral part of thoso Elnl\l\clnl statements, I,,) - 5 . () " I ," I i I I I i MEClI/lNICSallllG AII~1I sCHaa,. 11IS'l'lllC'I' WI'/I'fEMEN'l' 01' C/lsH /i'l.I)\lS M.J.. l'IIOl'IU~~'I'/lllY I,'uND 'I'Yl'I.\S n;/Ill ENl)~:P Jl}NI.\ 313, 1')'17 C') 1") QporntIng nctlvItlan apo~atIng lQBB AdJuBtlllontll to ):acondle ope~lItIng 10lla to nut cash UBBd In apo~ating actlvltlos Poproc.latIon PQnlltod COllllllodItioB consumed Se~vlcos cont~lbutod by 00no):1I1 Fund Pecreaoo (Ihc):eaee) In InvuntCJry IllcrollBe (dec~easo) in Ouo tQ otnec fundB Oefor~ud reVonue Oomponsated absencoB Not caan ullud in operatIng nctlvltioa NQncapltal financing activitlos SubddLos t ' ~. q Invoatlng IIctivItios EllrnIngs on Investlllents .... Not ducrollse In cash IInd cash oquivalonta callh and cllsh oquivnlentll, beginning Cash and caah equivalentll, onding .. .. l'<lod li.!I.~ $ (1,32,722 ) 16,183 1l6, 175 1513,792 (2,1137) (3,631) 1,571, I. 6a8 (212.378) 173,1.72 10,0139 (28,897) 82.11913 $ 5 3 ~ 59.1 Th/1 aoeompanying notes lire an integ~al. pa~t of thoso flnanclal etatemonts, ,-I . 6 - ) I I I I I, I I 1'1 ... .. It . . .j M~:I:II,\Nlt;~lllll111 /1111':/1 H(1l1001. I>lWl'lllt:T NI)'l'I':H '1'0 I-'l N/lNG l/ll. S'l'/I'l'EM~:N'l'S JUN~; Jtl, 19')/ 1, ~opo~tInK entIty Meoh/Hlltlshu~K MUll ~chuull>Lstrlct In thu lovul CJ~ I:\llvunllllllllt Io/hlch )IlIS oVo~nlght ~lIapIHlolhl11ty nnd cuntrul uvu~ /lctlvItlus ~"lne'HI el) llubLlc nchool educlleICJn, 'l'bu ~opurt Includuu Slll'vlcon p~uvlded by tlw IHlltdce to ronIduntn wIthIn lts boundllr Las I th" ClImbel'l/lnd GlllJ,nty oCJllllllunl t lun 'It' lJPIl"~ /lLLon 'l'uwnshlp, ahlrGlII!lnstUlo/n nnd Muchnnicshunl, Il,)ruugh, Hurvll:us 1l~IJvldud lnclude II uOlIIp~uhonslvo llurl'lcull,lm fo~ p~llll/l~y /HIll noclllldnry udlllltltIon ns woll an IlpocLal edl,lcntlon IHld v'Jclltionlll oducaell)tl prup,rollln, 'l'hu JHut~lct ~uc(Jlvoa reVOnlle ~~om lucnl I statu /lnd ~odu~1I1 Sl)U~ces !Ind IIIllne cCJlllply wIeh tho ~(JlluIroments of thosll ~undlng sOU~cos, , C~Ite~Ia es t!lh llshod in <luvel'nmentlll /lccCJunt inll S tllndll~dll Iloll~d S tatolllont NUlppe~ 14 wero used in dote~mInlng tho eneItIes tu be lnllludod In the ~oportlng ontlty, l'hone cdtor~11 lnclude pnslc ItslIIs such as nnllncl111 lnterdopondency, selectlun uf govllrnInK nuthodty\ deelgnatlCJn o~ Ipnnagolllent, ablllty to sIgnlticantlY In~luonoe opo~atIuns, accountnhIllty ~or ~lscHl IIIntters, scope o~ puhlic oe~vlce and specllll ~inancLnK rel,ltlonnhl.ps, /Ill op(J~!ltlonn of the IHstrlct 1l~0 IIJcluded In the ~epCJ~ting entIty, 'l'here lire no component UnIts thllt moet tho Ilbove c~ltol"lll ~o~ inclusloll In this ~oportIng entity. HOWOV01", tho OIst~lct is II Jlnrtlclpnnt In three JulntlY' gove~ned oporlltiono, onch of which In II sepnrate legnl entIty that o~~o~s educatIonal so~vices to tho DIlltrIct and its ~osidonts, Each entlty eerves sovoral school dist~icts, so the foll.owIng ontitIes lI~e not included in tlJIs I ropo~ting entIty, Capital /lren Intormsdlate lInIt provIdos sl'uciol educatlon sorvlces IInd p~Og~IIIl1S. CUlllbo~lnnd.l'e~ry /I~oll VocntIonnl'l'echnical School provldes vocational IInd tochnlcal oducation se~vlaos and progrulIIs, HanlllPurg /Ire a COllllllunity colloge provIdes community collego oducation so~vlcos and progrnms, 2, 8ummll~y of sIgnificant nccounting policies The IIccoUntll of Mechenicspurg /Iron School Olst~lct are maIntained on tho bllsis of accountIng ,p~uctlces prescrlbod o~ porlllittod by the Mdhunl uf /lccounting IIhd Related Ii'Lnanclal Vrocedu~os ~or PennsylvanIa School SyntelllS, luuod by tho PonnsylvanIn Pepu~tment of Edllclltion In IIccCJ1"danco wIth the p~ovlslonll of the School J..aws of PennsylvanIa, Those practIces, as applled by the Plst~Ict, arll in confo~mity with genornlly IIccepted accountIng p~Inclples ns npplLcable to govo~nlllental units, A eUllllllary of the 1II0re s IgnlfLcunt nccounting pqllcLos ls us fo llows I Fund accountIng The accounts of the Olstrlct are orgllnl~od on tho bllsls of fund typos and account g~oups, Ench fund type IIIny consist of sevQ~/ll different funds, Each fund Is a aepa~ato entity accountod for Py n separate set of solf.b/llnnclng accounts which cOlllprlso Itll allllets, llabllltloll, fund blllnnco/retnf.nod oa~nlngs, revonues and expenditu~ss/expensos, ns IIpproprlnte, - 7 .., M~:t:II/lNIGSlllJlHl /lll~:^ HGlIlllH. DISTIIlG'I' NO'l'~:H '1'0 Jo'IJ'I/lNGl/ll, S'l'/ln:H~:NTS (C,llllt' d, ) ~ UNE 31), 1 'J'lI , ~1. 2, Summary CJ~ a LgllLncllllt /ICCllUlltLllg Jlullcloll (c'Ullt' d,) fund /ICCU1IlltIllg (Gollt'd,) ,'-} Tho ~und typon Ilnd nccount g~OllpU utLII~UlI by MochnlllcHbul'B MOil Hch<)CJl IH$t~Ict a~e 11$ fo 110ws I fj Ooverpmelltnl Fund 'rypeq - Tboso nrn tbo f.ulldu t;!Il'CJ1Ig'1 whlch 1II11$t gQve~lllllent/ll ~unctlonu n~e p~ovldod, 'l'he ncqulsItIoll, llUO /lnd bnlllncoa Qf the Ollltdct'll oxpoll<lllhlo nllllncLllll'osources nnd ~ollltcd lLnbLlltlos (except thoae Ilccoullted fl)~ III JI~opdlltnl'y ~ulldll) arc accounted fo~ th~ough govornlllulltal fUl\dll, Gone~al f'und . l'he Ocnerlll f'ul\d I~ ulled to account fo~ /Ill UnllncIal ~e$oUrcell oxcept tholle ~Ilquirod to be nccounted fo~ in IInotbe~ fund, The IIIlIJority of lllutrict actlvItlos, lneil/dIng lnat~uctlon, adlllinlllt~ntIol\ 1I1\<lllthcl' sOI:vlccu Il~" accountod fo~ In this fund, ' 1:1 C,., Conlltructlon Funds' l'ho COlllltructLoll (Iunds nro uned to IlCCQUnt fo~ the proceods of bond iSlluos alld theI~ cQrrellpCJn<JLng expendltu~ell, 'rhe fund bnlancos at JUno 313, 1997 wIll bo usod for cllpltal ~lIp~ovomentll. Capital ~eso~ve Fund - 'l'he Clapltal l\esorvo Fund 111 ulled tQ /ICC'1Unt for Ilpcclal capital p~ojects, Special l\evonuo Fund. SpecLal ~IlVellue f'undll nre used tQ Ilccount for tbe proclledll of Ilpedfic ~evsnucs chnt nre rest~lcted to eXpendltu~oll fQr IlpecIfIedpurpolles, The /lthletlc /llIsocIatlon Fund III n Specinl Revonue Fund, .. .. Vroprietary Fund Typo - l'holle funds IIccount for operntiona tl)lIt lI~e Hnaracod IInd ope~lItod In n lIIanno~ sllllllar to p~Ivate bUlllnoss onterp~hoe I Food ServIce f'und . Tbe Food ServLce Fund ls usod to IIccount for the financial t~anllllctions assocLnted wIth the ope~ationn of tha cafoterLall , .. f'lducinry Fund Type (Trust Ilnll ^~lIl\cy FUI\<ln) , These fund II IIro uaed to /Iccount for aSllo ts ho Id by II governmontlll unit in a trUs tee capacity or Illl an ngent for othor funds I I~) ActivLty Fund - /lccountll for prog~llms ope~lltsd Ilnd IIponllo~ed by various clubn and o~ganl~atLQnll wLthLn the schools, Payroll Fund - 'rhe Payroll Fund IICCOUllts fo~ sala~lell el\l:nad by Oist~Lct omployoos, It procesBos payments to tho elllployoos, s ' ') '" t-H':l:Il/lN IlJHIIl)JllJ AlU':A Hl;lll)lll, i) I /lTlll I:T Nlm:H '1'1) l"ll'lANl:IAI, H'l'/I'I'J-:M~:I'I'I'H (1:11111' II.) ,JIINli .11), I 'J'I! ~ 2, SUlllmll~y o~ II IglII t'Lcllllt ,ICCI)llllt ll1N, 1)1111.010/1 (Ollllt' II, ) fund IICCQunt IlIg (Chlllt' II, ) ACCCJUllt q~Il\lJlJ~ . Thll/lo IlcCUUllt l\~ulllla Iln, lI"t CUllda, 'l'hoy Ilro CJllly cOllco~nod wIth tl)l,l 1II0ll/lllrUIIIOJlt ot' 1'LlIllno1lll pOllltlulI 111111 nru Ill)t: 'Involveu w1th tho lIIon/lll~olll"llt oC ~O/lllltll ot' OpO~lltIUII/I, Gonerlll l"L~od /lSllet/l ' l)ol)l,rlll l'l~od /lIJ/lotll IIccoUllt C,,~ the lHlltrIct'H lllVUlltlllollt In n~ed Illllluta, Papl'ucllltblll ls lIut cPlllputed 011 l\ellurlll flxod IInautH, I") QOl1orlll J..ong.'l'erlll Oobt - GOlle~1I1 ohllglltlol1 bOlld/l paYllblo ln futu~e yoarll t1~e ~ecCJrdod /In IlLlltdct Illdo!lted\1oss, Intorest 011 lCJllg. to~m debt ls ~ecOI'ded wholl HIICh l\1te~ost 111 ulle. /lcculllulated COlllpe\1eated nbIlOJlCOIi, othel- thllJl thollo refLoctou 111 tho Genoral IInd Food Servlco FlIndll, are Hlno HCCountou ~or 1\1 thlll group of aCCount:II, >>asill o~ prellontlltloll Thll IIccountlng llnd fL\1l1ncLal I'rosontlltlo\1 lIIeth"dll llppllod hy tho dIHe~o\1t ~unu typos lire basad 011 theIr meallU~0ll10llt focus, whlch doterllllnell \oIhen ~eVenuell LInd expendltu~ell lire rocog\11~od, q Goverrmentnl Fund ~ . Thone funds are /lccounted for usinll II "curront fLnancLlll rosourcell" mOllllur'elllont focuB, which IB II IhodifLed IIcc~ual method, . lI\I l\evenuos lire ~eco~dod whon lIullcoptiblo to llcc~u/ll (both 1JI0,lsU~/lble anu IIvnllable), /lvallllblo mellnB coll,octed wIthin tho cu~~ont period o~ Iloon onough tho~eafter to PIlY cu~ront 11abIIItloB, Expelldlturoll a~o goneully ~ocognized whon tho rolated fU\1d LLllblltty ill inlluned, Exceptionll to thls gone~al rule lncludo p~Inclpal and InterOllt on gene~nl long- torm debt whIch is ~ecognizod whon duo, PlllburllOmentll for inyentQry type Items and propaid expenllOs are cQnaLde~ed oxpendituroll at the time Qf l>\lrchIlBe, ., Proorieta~v FlInd TyoeB ' l'he Food ServIce 1"lInd UIIS~ the "now o~ economic ~ellourcoll" lIIealluroment fOCUIl, whlch Is a full nccrulll method, . Donatod C~NllodltloB a~s i\1vento~lod lit an osthllnted cost valus when received, Inventories (valuod on the first. In, first-out mothQd) are ~ooorded all on nSllot, and tho portIon ~epresented by donated commodItIes is recordod all defo~~od ~evonuo, '.J FOQd 1I0~vlco oquipmont ill cnpItallzod, wIth deprecLntlon (computed on tho Ilt~nlght-LLne mothod uslnl\ /In elltlmatod lIsoful lUo of 12 yea~ll) ~ocordod 1111 an ope~lIting eXpenBO, The equipment (not of IIccUlnulated dop~ocIntlon) Is offset by a reHorved po~tlon of ~otnlned earnings, - <) , I, 1, !"l n ,') (', t" ,~ . . . v ~ M~:CIII\N ll:tillllllll Ml~:/I Ht:/lllIll. III H'l'lll';'J' Mll'l'~:H 'J'l) I'IN/ltlclM, HT/I'l'I,:m':W/'Ii U:ullt 'd.) ,)llNl': jl), 1')')/ 2, Slllllmll):y uf ~iW,1l1nclIllt IICCllUlltlll/!. 1II111duII (C"llt'd.) ""/1ls CJf prullullt/lt l<1lI (llullt I ,I.) C'IJllPUI)/lllts,\ lIhlHillell1l M'lI l'uc'lgnlv.ll,1 1111 '11"'~lltlll~ IlXPIlIIIIUIl ulld thu cUlIIlJ~atlvll IlIIIllUIIl 111 rll'''Il'<1ud'lII 1I lll1hllll',y wlthlll thu FUlld, 'l'hll HlIb LL I ty III II f filII t by II r,"lllc t IIl,1 III thu I'UIll! rvud P'll't (1)11 <) f ~Il tlllnod ellrlllll~lI. l'LduuL11J:.Y. Flln<1 TY,J}1l11 Cl'pltl t-illJ.\Lbl!.U!ll'..Y...hJl!ltil. ' Thusu fllllds UIIU II modUlud lIecrulll 1II0th,/<I, 'I'huy II~U cUI/toM'll III n,\tll~O (1llIllutll u'lulll llabLLltlulI), 'HId II~U nut Invlllvu,l "11th thu mUIIIIU~umullt uf ~uljultll of oporlltlolls (~OVUllllOIl Illld oXpend\tllrOIl), /lccourt GrU'lI)~ - 1.lIlld, buHdin8'1 IInd O'llllpJllullt are pl:ollontod lit Cost. DoprllC iatlCJIl Is not cOlllplltud Ill) thullo 1I1111utll, l.on8- tu~m dubt 111 Ilffllot by 1111 1I111'IUllt 1'<) ba l'rllvldod by futuro tllXlltlon Il~ othuI' ~uVOlllJO IIIlU~eeS, !lullds JlllYllhlo In flltUro yoars IIro ),'oco~dod ns l>1stdct dobt. Tho Illstdet'lI purtl'Jl) of bllndll issuod by tho authorIty II~U IllcLudml III thu Ciollurn 1 l.<lIIg-To~1II lluht group of nccounts <m the lllst):lct' II hlllllnco IIhoot, IntOl'Ollt 011 bOllds 10 recognlv.od wholl lIuch llltll~oat III duo, Illto~ust Oil Cllpltnl /lpprocLlItIoll 1I0ndll Is ncc):utod Ilrlllually IInd IIddod to tho nlllount of pOllds outstandIng, ' Cllmponlllltod absoncoll aro l'rellentod UII Ing the vos t ing metlllld, Unulled vaclltion 101lVll Is mlnill~I, sldk leave III granted lIa IIpproprinto, and medical evIdenco lIIay Po ~o<Julrad, V~ovlsioll la IIIl1de annunlly In the bud80t for tho cost of Ilub~tltuto pll~sonnol, l'ho~e Is lllllltod payment fo~ acculllulntod slcl< 101lV,o lit tho tIlllo of rotlromont, 'l'ho g~oss aJllount of uncolllponllnted absllncas I~ l'ocordod In the Genorlll l.on8'l'erlll Debt group of IIccounts, Genornl F!H1d nnd f,'ood SOl'vlce Fund, nudge t s 'l'ho OIlIt~lct IIdopts, p~lo~ to tho boginnlng of oach fiscal year, on nnnual budget fa): the Gonornl FUnd and AthletIc Fund, /I part Ilf this budget proculI ill the ndoptIon of local tax ratoll, subject to varIous legal rellt~lctlQIlB, The Dillt~lct npp~oVes lIubsequent budgot rllvllllonn (prIlllarIly tranofe~s betwoen expenditure cntegorloll\, liS nocessn~y, Unused j\PI'~opl'llltlons oxplre at tho ond of the yoa~, Rovonuo . J..ocal sourcos Roal estnto, roo Ldonco nnd occup'ltlon tnxes j\~O lovled 'loOt July I wLth 11 hgd, ol\fo~ceablo cLnim agalnot the tnxpllye~ nn<l/CJ~ p~oporty. Tholle tnxell are ~ecognl~ablo as cu~ront ~ovonue whon rocolvo<l by tho llIstrlct du~Ing the fillcn' yoar IInd nlso elltlmnted to be rucelvod by tho DlstJ:lct within sIxty days aftsr tho cLolI1} of the fLscnl yonr, Thooo currontly levIed taxes which ne not olltimutod to be recolvod by the DIBcrLct wlthln Illxty daYB IIfto~ the close of tlls current fLeclIl YOllr aro ~ecordod on deferred "ovumIO, , 10 ' ,.., M~:CII/lNII:~/llJJHI !IlII':/I ~l:lll)lH, 11IU'l'/lLG'l' Non:s 'I'll lILN/lNcl/ll, /J'1'/lTI'm:N'l'~ (llllnt''',) Jl/Nl': '10, 1'1')/ ~, SUllllllllry l)~ nlglllncllllt IICCllullttn~, polldun (liullt'd,) /luvenuo - t,oclll Ill'llrcun (Gollt'd,) /In IlHu"lllllCO fo~ ullcnLluctIblol1 III ~ocllrdo'l bIt t/lXU/l luvtllll tIn" tho cur~ont tLncill YOil~ Ilnd doulllud to ho ot douhtf,ul c"lluctloll tll tho Cljrrllllt Ilnd lIubnoquellt fLHc/ll YU/ltll, Qthu~' tllX ~oVOIIUua, lllc ludlnv. tIIXPIlYO~' -llslIos""d ~'lIvenUll" such liS ellmod Inco/lle tIIXIlH, 11~1I tccogllI~lld /III ~cvllnue when roce l vuu dur lnv, thu tinctl 1 YOII~ o~' HCJ<ln onough therellfte~ to hu sunceptlhlll to Ilcctunl, ~Uvonuo - State 1I0urCOII ,) Statu subsIdlos due thu Pist~Ict all Curl:ellt fiscnl Ylla~ ontitle/llonts ate recognlrrllld liS ~QVenUO In the cunent f,lIlClll year, l\ovonuo - ~edQ~al sources ") ~'edllrnl p~og~3m fUllds /lpplIcnble to expolldlturon In tho cun-ollt flllcal yen. but expected to bo rocelved In the lIext flscnl yont H~" r"coglll~od as revellue In the current finc/ll yellr, Inte~-fund ttllnsncttolls .;. Expandituroll by tho Gono~al Fund fo. the boneElt of other funds lire ~of,lectQ,d in the rospective statomontll of rovenUe and oxpondituroll!exponses, based on )1Il1nagement's ostilllntes, 'l'ho DistrIct does lI'1t /lttDml't to IILlqcnte all costs which benoflt thll other funds duo to tha diffLcultIes nssociated with the meosu~ejent of such benefits, .. UtHitios, Hala~IoH, otc, pald by the Gone~nl l'ulld for the benofit of tho Food Se~vice ~und amounting to $ 1513,792 have beon reflected on the ~espuctlve statemonts of ~ovonue and oxpendltu~e8 for tho YOllr endod June 313, 1997, basod on mllnagelllent's estLmllteS, . Mllte~lals and suppliell Oene~al Fund mate~lals IInd supplles aro expensod as pdd, Food Se~viue Fund mate~il1ls IInd suppLLes a~o oxpensod as ussd, Food Servlce Fund invonto~los II~O roflectod on tho bHlanco sheat nt cost, fIrst-ln, first-out method, v PensIon plan SUbetahtially 1111 full-tIme and p"rt-tlme ompluyees of tho DIstrict paJ:t~oipate in a cOllt-shn.ing multIplo omployer deflnod boneflt ponlllon plan, The DistrIct implemonted GASI\ Statement No, 27, "/lccountlng for VOllsions by State and J,ocl1l Gove~nmental Employors", In tho yon~ endsd Juntl 30, 1997, That Stlltoment reqUiru an employo~ that partld\>ates Ln lIuch a plnn to ~ocogni~o annunl penslon expenditurcs o~ expensell equlll to ltll contrnctun11y-roquired cont~ibutiohs, subject to tho modlfled acc~unl bnsls of nccountlng in govornlllontal funds, . " 11 ' \ ' ,., M~:(:J1/1NltJHIHJlllI /IJ\I':^ St:llt)lll. llPITllIl:T N0n:H 'l'[) fIN/lNtJl/Il. s't'/ln:M~:N'I'S (lJ'Hlt' ,t. ) ,IVN~: 30, I'J'JI :'" 'J. Ctl/lh IIlld t~IIII)llt'IH'y L/lvUHl:lllunta Oallh (<lthul' thull ~ (,l) clIsh 'Ill 11111I<1) CIIIIIILsl:11 uf chockl,,/! IIn,l anvlnl!,ll IICClIUIll:a In fLnnnllll1I Lnstitlltl1H)S IHIIl II trllIlS\I~y IIl1lnll/lumollt llCCIlllJ\t wIth n tLnllncLal 111H~itutlllll, und In clltogllt'l~cd 11II 1'1)110WIII Gunylllll ""Ilk Vultlu IlQlnnco Insu~od $ lOO,OOa $ 1()C),OaQ CoLLato~ul huld Ln lllllt~Iat'H IlUIIIU ,13- -13, CIlLLate):'ul not huld In PIst~lat's nllllle 5()'J . 1U ~ U32.9ItQ 6a9,3Ul 9n,9118 . I Voolod Involi tlllallt (trennu~y managelllont lICCCJ1Illt) l,1.7Q,7P 1.1.7U,713 ,~ 2.0UH.09/. ~ 2.I11q6.~ IJ I"llr pu):'posell 'If tho Food Servlco I"und 'Iltlltolllent of canh Hilwa, cllsh connists Ilf a checkIng lIl1d savlngn IICCIlUnt, na tha fund does Ilot hnve any aash equlvulentll, Invelltlllontn CJf tho llistrlct lit J\lno 313, 1997 Includo the followlngl q PA Treasuror'n Investlllollt VrogrulII f()~ J..ocal Govornlllentll Ce):'tificatos of deposit Vonnllylvllnin School DIstrict Liquid Allsst Fund Pennsylvl1nIII J..ocl1l Govor.llIl1ont Investmont Trust $ 956,a5f1 51313,0013 689,62/1 1. 658,513/1 $ 1..006.184 .. 'I tho invostlllonts aro categorized as 1'0111lwsI . CarryIllg Invos tment Value Balance Insu~ed o~ fodoral guaranty $ 552,51,9 $ 552,549 collllteral held In Oillt~ict's nllllle -a- .13. Colh-tern! not hold in Olntrlct's nnlllo -a- ..0. 552,51.9 552,5/19 Poolod invostlllonts 1.1.53,635, 3,1157,8513 $ I. . 006 . L8'. $ ". . 0 10. 39~ . The types of authorLzed Invelltmonts lire Lllllltod by state l'egulatlons, The Inv81ltlllents markot value app~oxlmntoB CCJst due to the short-to~m nature of the Investments, ..., Invontlllont plJLLcles followed during tho year <lId not sLgniflcantly al.t8~ the catogo~izatl.on of Invostmonts ehown above, . 12 ' " .. ,.., M~:CII/lN1C;6UlllllJ /IIU:/I SClIlllll. IllS'I'lllC'l' NOn:6 '1'0 l'IN/lNllL/lL S'I'/I'l'~Hl\N'1'6 (C;IHlt' L1, ) ,llJN~: 'JO, ),'1'17 ~ ~, ^c~Qunts rocoJvnhlu Gllnu~nl /FunLl nC')CJuntll ~ecolVllhlu nt Junu 'Ill, l')')1 '''lIlulut ut' tho lll[lnwlnl\1 " Sulw l<lLuu l)uo frolll othor l\CJvu~nlllontnl IHlltu Othor $ 'Ifill ,0/'1 118/. ,l)l)l, 12,7'l.')' $ 856. tun ,') 5, Delinquent taxeu reculvnhle Pellnquont taxes ~eceiVllble nt Juno 313, 1'1'l'1 Includo ~01l1 estate tnXeQ of ~ 296,1)/)6 and po~' capltn, reslL10nce nnd nccupntlon tnxlllI of Q 2911,8/18, /In nllowllnce fo~ uncollectible tn~ell of $ 218,957 hns been estnhLluhed at June 30, 1997, ~n nddltlCJIl, $ 2313, '/118 In tnx rovenUll hilS hoon dofo~~od In accordnnce wIth IIchool tax nccountIng poLlcLes, 6, Vroperty, plant and oquLl'lIIent ~'he schodule l1elow p~esontll elltllllllt.QrJ hllltorlcnL COSt. of property, plant and equipment, 'I'helle alllounts were obtained, III tho lIIellt part, from a valuation ~eport prepllred all of June 30, 1994 lInd UpdHtod by IIIl1nHgelllent to JUne 313, 1997, It includeo oquLplllont hold In tho Food Se~vlce Fund, l'a ~'J July I. 1'196 AdLll t I QJlll 1l~lot.I,onll ,Juno 30. 1997 Land $ 1.1313,963 $ $ $ 4130,963 [,end Improvulllontll 1,059,31.13 3,529 1,062,869 . l3uildlngll l2 ,1.29 ,892 91,71.7 12,521,639 EquIpment 6.13133,723 l76.5117 8,1379 6.172.19~ ~ 19.893.918 $ 271.tJ23 $ 8.079 ~ 20. 157 ,66~ 7, Bondll pllYllblo . ^ summary of chllnges Ln bonds pnYllble for the yoar endod Juno 313, 1997 is as follows I Bo~lllnIn~ AddltLonu Pnymentll Endinll . Genoral ab L1ga t Ion Bondll Serloll of 1992 $ 7,5913,132 $ 1.56, 927(a) $ 1,025,1300 $ 7,1322,1359 Se~lell of 1993 II. 290,000 -0- 2313,131313 4.13613.131313 ~ 11.880.132 ~ 1.~Hj. 9')7 $ 1.255.000 $ 11.082.059 u (a) Ropresents accretod Into~est 011 Capltlll /lpprecLatloll Bonds, LJ u' '. I ..'"'-, ,',) .... IN . . . .. 1,,/ tn:CHANICSlllllllj A!IE/l HCIlOOI. lHWl'IUC'l' Nc)'n:s TO VINMWli\l. S'f/ln:HEN'I'S (CQJ1t'd,) JlJN~: )1), 1997 7, Ilondll pllY/lblo (Cllllt',l,) 'l'ho Se~los ,)f l'/'J3 Gono~'lll QhLLglltlon Ilolldll 'll'U duo soml..onnulILLy tlH.ough 5eptelllbo~ 1, ~al)I), Iltld hllve Iln ,lVarllgo l)OUPOIl ~'Ilto 'If 11,858~, 'I'he Sedos of 1992 qonoral QhUglltIoll ll'lIlds cOllsillt of <lllpItlll /lPIH'llclotl<H\ Ilollds, lnto~'o/It accreted th~ough tho HII~ch 1 pllYlllont dllto of ollch Yo/H. on tho CHpltlll /lpprecL/ltlon 1l0l1dll is addlld to the clI~ryll1!\ Vlllue. 'I'ho bOlld/l lire dUll /lUIIII'llnl1ulll ly tlll'CJugh Septumbllr 1, 200~ and hove 1111 IlVO~lIgo coupDn ~lltO of 6.23', Fucu~o IlIl1turItios and dobt Ilo~vloo rOlluI~olllol1ts n~1l 1111 fo 1 101>/11 I SoL'loa CJf 1993 1wu: :J.'.!l..W PrIncIpII!. Il)torullt 199,.1998 1998-1999 1999.2000 21300.21301 2001- 2002 213132.20113 $ 1,"'16,868 1 ,IIIlll, 2113 1,,,,.8,738 1,11I.8,266 !. ,11I.6,786 "I.I.53.Q17 $ 235,0130 $ ~1.5, QOt) 255,13130 265,131313 275,13130 2,785,13130 186,6811 178,21f3 168,738 158,266 1/.6, '786 618,1317 Totolll 5e~Les of 1992 Capltlll /lpp~ecIation llCJnds (1) $ l,a25,QQa l,t)~~,aoo 1,a~5,QaO 1,1325,000 l,02~,OQa _!La~o, 01313 $ 11..691.938 $ 1.,060.000 $ 1./.56,93~ $ 9.175.000 (1) l\oflocts final IIIl1turlty valuo of Capitnl /lpp~llciatlon Ilondll, 8, ContributIon to Food Se~vice Fund "Cont~ibution to Food So~vIc~ Fu"d" fo~ the year ended Juno 313, 1997 includes the following olltilllatod eXpenllOIl cha~ged to tho Food ServLce Fund IInd pllid th~ough tho Genoral FundI Oustodlan Wagos HaUling and cloaning Employee benofits lJtl.litIee and fuel AdminIstrative llalarLo/l Social security subllLdy Retirement llubllLdy $ 12,308 7,159 12 , 1393 511,365 713,61,1, <3,173) (2,601.) $ 1513,792 , 11. . ,I I 11"1 n ," ,., ,.~. "" -- . . v " ,J H~:CII/lN IGS/IUlll1 Mll\/I SCllal)l. IHS'l'IllC'I' No'nlS 'l'Q l'lNANC 1M. S'1'/I'I'EH~N'l'S (()CJnt' d, ) JUNf,: Jl), 1997 9, Into~-fund t~ans~e~s '~he cqmblnod ~tatolllont CJf revonue MIl! o~pel1dltll~os ~o~' tho yoa~ onded Juno 30, 19?7 I11Cludo~ the ~01111wIng lnto~-fund t~anllfe~H Illld contl:ibutlrm~ fl:o/ll tho GenoraL Fund to tho ~Ol)<l ServIce l"unllllnd /lthlotlc /lssoclntlon whIch a~o ~ocCJ~dlld In the Gonorlll ~'und Il~ hudgetllL'Y o~pondItu~os I f'ood s/l~vLclls Student actlvitlo~ (/lthletLc /lssocilltlon) $ 150,792 35,1300 lQ, Compon~ated absencoll Tho Gene~al /..ong.'l'erm Oebt group of account~ lncludes a Ha)ILlity of $ 7,9137, 811 which ~ep~esontll the ostlmated g~OH~ alllount of compollsnte'L ab~o,\cell, p~l/llarny olck hllVO I which would be payable to all PI~trlct omployooll if thoy we\:o to Uoo thio accumulatod ).eave pl:Io~' to 1:0tIrolJlent, It WIIS clllculatod by mUltj,plYLnll eoc~ employeelo accumulatod leave tLllle by theIr pe~ dLellll:ate, If all elllploYoe ~otl~u with unulled compensllted absences, the payout polley Is liS follow~1 ~m~~goncy and porsonal No payout, VllcatLon (/ldminist~atlve porllonnel) Pllid lit per dielll rate, Sicl<nesn Paid at the pe~ diem ~ato pold to II substitute teacher at tlmo of I:etil:emellt, based on a formula InVOlving a pB~centage of accumulatod s lcl< dayn and yoarn of SOl:vlce, l'ho IllaKlmum h 75\ of accumuLated sick dnys afte~ 2l) yellrs of se~vice fOI: the yell~ endod Juno 313, 1997, Changou in long- tOl:ln compensated nbsences wore liS follows I ,Jll~v I. 1.?96 Net Chl1nio JUlie 313 ~~ Adminint~lItoJ:ll Toache I:Il SUppOl:t staff , ~ l)Ql~,m 6,86~,~Q7 I ~1.5!O Ii (91, n8l (113/1,698 (J . 1413 $ 1,105,1153 7,297,2Q5 311,7139 $ 'd<:f , ,I ~ Q9'ilaij:':",iAl d'l ":); J'f-j1 ",', I, 'I '\ 'qn-'-::,:' $ 8.437.367 $ (529,556) " , 15 ' ,I,; ., ,"\ ti~:c;lI/lNlc;HllUIW AIlEA SGJll)OI. IllWL'lllc'l' Non::; TO l'IN/lNC 1M, S'I'/I'I'I,ti~:N'I'S ((:0111:' d, ) ,IUN~: 'JO, 1997 11, POliS Ion plHn Vllln dosc~lpl:IUII I 'l'I1O District cunt~lhutua to II I.\llvul'llIIlUlltlll C'lst 'lIhllr1I1V. lIIul t lp 10 -"mployo~ dennod bUllofit Ilons11l1l pllln IIdllllIlI"l:orod hy I'S~:JIS, IJolloflt P~I)V1HluIHI of tho pll1l1 aro ostnbLLs led ullde~ tho IH'CJvlalulIs of tho liS 1m:; Coda (thu Clldo) IIl1d IIII1Y bn II1110nded by tin Mt of tho l'ollnsylvnnln Stllte l.ol.\l.sllltl.ll'll, Thl! pll1n p~uvldos ~etlremunt, dlsnblLLty IInd delltll bUllof1ts, lu/.\lollltlvely IIIl1llulltod IIU hoc cUot'ef,-l1vlng /ldjustlllollts,' nllu henlthcllru IIlSUrllllCe JH'UllllillJ\ III1HIstnllco t., llllillHyln/.\ plan mombs~s and honofLcLa~les, It nlso prllvI Oe fo~ ~ofullds uf IIlIIemhu~' S accumulntsd uont~Ihutlon UpOIl turlllInlltIllll of II mombo\" s olllplCJyment In tho l'uhlIc Ilchool ssctf,l~, l'5E'\5 issuos a publicly IlVnllablo fllIlIllcLnl repo~t that Includss financllll Iltutemonts fo~ thu plan, That r,orort IIIUY he ohtalned by wl'lting to PS~l\5, V,O, llllX 125, IIn~~iohurg, VA 17108,0 25, ' Fundlllg poLLey Tho contrlbutlon polIcy 10 sat by tho Codo nlld roqulroll contrlbutlonll by actiVe omployoe" and by pnrtlcll'lItlng employer", I'lnlllllolllbe~s n~o roqulrod to cont~lbute 5,25 po~cont of thel~ cOlllpensatIon If thoy joined the 1'1on hoforo JUly 22, 1963, and 6,25 percollt H they jollied on o~ nftor that unto, The contrIbutions ~equIred of partIcipatIng employs~1l 10 based on nn nctunrIal vnluntICJn nnd Is oxp~ossed 4S a po~centago of annual covel'ed payroLL during tho poriod fo~ which the amount Is determined, l!ofo~e July 1, 1995, distrlcts and the COJ\\Inonwelllth sharod the smployer cont~lbutlon ~lIte eqllillly. SIncu July 1, 1995, dLst~lcts a~e \:equi~.d , to pay the entIre employet contributIon rnte and /Ire rellUbu~ssd by the COllUnonwelllth In an amount oqual to tho commonwealth's shnre as dete~minod by the income lIid ~lItlo (as defInod in /let 29 of 1994), whIch Is at lsast one-hlllf o~ tbe total elllployer rato. 'rhe DIstrict's contributions to I'SE~:; for tho yuau ondlng Juno 313, 1997, 1996 IInd 1995 we~o $ 1,5131,951, $ 1,596,716 IInd $ 758,85~) ~ellpectlvely, l'hollo amounts nroll e'lunl to the ~equIl'ed cont~lblltlon for each yea\:, T~lInsltion to new accounting standllrds The District detormlned thllt undor GASll 5tntemont No, 27, "/lccounting fo~ Pen.~'onl by Stats and l.ocal Govo~nmental Employers", tho~e wns nCJ penlllon liabLlity (.....~) , at l:ranllition, Tho~~ nlso wao no penslun llabll1ty (aseot) before t~andtlCln;,~p,: .:1" GA5l! Statement No, 21, ':"i ,,,eli , ... J,;I '"d'H ,. .' . ',I'.''(~ff! 12, Other pOllt-omploYlllent ~etlroll\Ont beneflte ' ,') :r',' Tho District doee not offer any pnat-emploYlllent bllllllt'lte to r.tl~ed ef4ploy".',:ii,':;;j'; othe~ than pension benefits ns dlscuosed In Noto 11. Tho llletrlct will, howevet,,',""J: allow ~etLred employoes to relllnLn In lts group IIlcdlcnl Lnou~nnco plan upon pay\l'l),5i by the ~otired employee of tho cost of such covernge, ...'i"! ".'.1, Iii I .. 16 . I~I I II ~ . 1:I~f ,.1.,;, ,:1'1. ':) ,., III . . 1.,/ , '. HI .. ~j. ,.., 1-, ! I I tU:C/I/lNlllHnWu /lll~:/I SClloOl. llIS'l'lllC'l' No'l'l':H 'l'O FIH/lNC 1M, Wl'/I'l'~~MEN'I'S (Collt' d. ) JUN~: ')0, 1')'17 L3, l\Isk Hanagomont I I," I I j'l 'l'hll Dlst~lct LH oXIHlsod to varlous ~Lskll of loss roLated to to~tsl tho~t o~, dlllllago to, alld dllSttllctLCJII of IIHsotS! orrCJrs alld rll11IssIonsl LnjurioR to omployees! IInd natu~aL dLsastors, 'l'he DLlltrLct IIII1LntaLns cOII\me~daL Insuranco coverage covodng each of those rLsks o~ LllSII, HllnllgOlllllnt bellovos such cove~4ge Lo suft'LcLont to l'~ecLudo /lny sil\nHlc/lnt UIIInIlU~od lossos to the DL/ltrLct, SottLed claIlII1l have not excoedoll thLs cOlllme~dal covoral\o In any of the past throo fl,scnL Yllars, For State unolllploYlllent compensation lI1WS, the DLstrlct ls self-lnsu~od, whLch Ls II COllllllon practice for local governmont/1L unLts. /IllY ullemployment claIlII1l a~o pald by the DistrIct on a quarte~ly ballls liS lllcurrod. L/,. comlllitlllents and cCJl1tlngoncLlllI At June 30, 1997, tho DLst~Lct Willi commItted to constructIon contracts totllLLng IIpprOKlllllltely $ 227J8Qa. 'l'hoso allloul1te will bo paLd frolll tho aonst~uction IInd CapLtal ~ellOrvo Fun s, "t The Dist~ict's contract wlth Its toaching stllff Is schedulod to oxpl~e June 30, 1997, A new COl1trllct hao beon onto~ed Lnto fo~ tho po~ICJd July 1, 1997 to June 313, 213131. . In the no~mal course of busLnose, the DIst~Ict is subjoct to legal dillputoll and claimll, The Dist~Lct doos not antlcLpato any lIIatorlal losses frolll allY pendIng o~ throatened litigatIon. In the nO~1II111 cou~se of propllring ~or the subeequellt ochooL yoar, the Dhtri~t ~/I.s IIwllrdod bids for var Ious supp lies, fuo 1 contrac ts, etc. No IIIl1j or cOI)Ul\itments in oxcellll of routino ~e'luirelllents hove beon made by the District, Tho Pilltrict Is also audited by the Stato's Oepartmont o~ the /ludito~ aono~al, Findingll, H any, f~olll theso audLts could ~esult in the ropaymont of fundll, O~ the ~eceipt of additLonaL funds. The DLstrict LIl contLngontly Uablo for outstandIng lease ~entlll debt of the lIan Lsburg A~ea CommunI ty Co 11ege. . . , , ~ . L 7 . 'J lit ,.., ,., ". .. ~UPPLE!lENT/lRY INFOl\MATION . . . . ... . l~ . l[J I . , .., ~ H~:ql/lN1C~IlU'lG Mt~:/I SCIlt)llJ.. llIWl'IUG'l' G~N~ll/Il. FUNll 5'I'/I'I'ElI~Wl' 01" 11~:VENlm YE/lR ENllEll JUN~ 30, 1991 ,.., V/l~' iancll I'avo~'ab'e RIlVOIIlIJ). 1ll1~\l!Jl.1 (\)llf/lvor/lb~e) L.1l~1I1 S<lllrIlOS Gll~ront ~oal ostHtll tll:>CUU $ LL, 2111 ,l)l)ll $ 11,~92,28') $ (n,191) pub LLIl ut I.l i ty ~'o/ll ty t/l~ 2a8,fj08 215,522 (6,91/1) Current por cllpItH tllXll/l 7fj, fj 711 '/7,955 (1,277) Current /lot 511 t/lXe/l 7fj,678 17, 95~ (1,277) Occupation prlvIlegu to~os 59,l)63 58,768 295 Cur~ent ocoUp/ltIon toxes 2,5132,755 2,5813,13713 ('17 ,315) Rool e~tate trolmfor toxoa 2911, a62 253,272 1.1,590 ~arned Income ta~es 1,953,577 2,052,131 (98,5511) Dollnquent taxoa, /ILL lovles 607,laQ --..120,13130 287,l~O TIIXOII ~6, 9aO .1.99 1,6.927,962 5?,537 'l'uitlon ond otho~ p/lymentll t"rolll pat~onll 10,8110 LL . 13013 (120) Ea~nings t"rom tSlllporary depolIIts /lnd inveetmentll 1118,288 365,13013 53,288 Studontactivitles I/f,192 16 , 31313 (2,1138) Ront t"rom School IInd othor t"acilitllls 1/1,127 11,91313 2,227 COlIIlJlunity sorvlcolI IIctIvIties 102,528 85,13013 17,528 HiscellaneoulI ~ovenUe 1.5118 1,2130 3118 561,561 1.90.I.aq 71.163 S tate 1I0U~COIl ,Basic instructionlll lI11bllldy " 1.,138,356 Ih 137,057 1,299 /lolJlobound InstructIon 8 -a, 8 klgrato~y childron 1.13 .0- 413 Special oducation 997,796 951,13813 46,716 Transpo~t/1tioll 221.,111311 1913,131313 311, 404 Rontnlll Ilnd Sinking Fund payments 209//186 1513,571 58,915 Drivor education 5,7913 7,131313 (1,2113) Health so~vlcoll 81',223 813,8613 3, 3~3 Social lIecur i ty 557,27a 552,180 5,()98 Ro t i ~ement 733,139 763,338 (30,199) ~xtra g~lInts 1,681. -a- 1,684 'fuition . court Pl/lced IItudents 25,236 15,01313 113,236 InstrUctIonal support toalllll 29,0130 29,13013 -0- Link to loll~n 22,13013 .13- 22.000 7,1328.""13 6, a 76 ,086 152.354 'it lit . . . . (Contlnuod) .. , 19 - u ': I', ),~ Ii\ H~~CIIAtIIClilllJIIG /111M 6CIIOQI. /1l6'l'l\IC1' G~N~IW. f'UND li'l'/I'l' EH J::N'I' al' IIEVENUE (Cont'd.) YE/lR ENDEP JUNE 313, 1991 VII~lllnce ,"] l'avo~ab lu J~DVOn\lO lJl/d~ot lUnfavo...obls) I l'ederal eourcQll IlIIpllctod lI~enll $ -0- $ 5,01313 $ (5,13130) Title I 122,21111 U5,620 6,664 ,., Title VI 12,3/.0 13,500 (1,160) Prug free echoCJ11l 16,1.53 ~~,QaO _Wll 151.1377 11.9,1213 1.957 ather Refund of prlo~ yeau' oxpendItures 99 -13, 99 olt Transfere from othe~ local educatIon agencLes in Vonnllylvania a ,1.21 75,0130 (66,579) Tra~ll~ere from out of Iltato local edualltion agenciell 3.075 .13. 3...Q.ll U, 595 75.131313 (63,/1135) Total rovonue ~ 21..733.171. $ 2/.,518.568 $ 21/..606 Soe accompanying ~eport 011 eupplelllentll~y lllformlltlon, - 213 . '..; ""l HEClI/lN IGSUUllG /l1l~:/I SGIlOQI. IHSTfIIG'I' Q~NEMJ.. F1INP s'J.'/I'I'~~N'l' af EXV~ND I1'lIIU\S Y~/lll ItNPLIl> JlINE 30, 1997 Va~lllnco f'avl/t:ablo E~lloml~turll.ll. ll.Y5lill.1 (l}nfnvornb Ie) Iloguln~ pt:ogrllms Porsonlll Ilorv~ces . QIllot:Los $ 9,11$13 ,1\78 $ 9,1.50,8136 $ 128 . PO~llonal se~vicoe . omployoe bOllo fL ts 2,1\133,1177 2,613,083 9,6136 n purchaoed pt:ofoosLonal ond technIc III ssrvlces 93,792 9",10118 3,656 Otho~ pUt:chasod oorVIces 68,966 69, ",.6 1.813 Supplieo 1.15,020 1.16.638 1,6U Propo~ty 1.7,7138 1.7,7511 1.6 Othot: obj octs 28,7~2 31~.351 5,59~ .1 12.708,393 12.729.526 21.133 SpecLal progrnlllo Porsonlll Ilsrvices - sall1rios 1,2138,1.12 1,2313,517 22 105 Po~sonlll sorvicos - elllployoo bonofIts 3613,507 372,938 12,1131 Pu~r.haeed profossLonnl and .. technIcal se~vicell 589,631 1\1,13,367 513,736 athor pu~chasod se~vLces 11.1,828 1/11,830 2 Supplios 10, 112 15,383 ~.:271 2,3113.1.913 2,11131. 1335 913, ~115 Vocationlll oducation progromll . Othe~ pu~chnsod services 213.888 215,1.91 1. 613 ,) Othor inetructLonal p~pg~ams PO~llonnl Ilorvices - sala~ios 132,7131. 133,0713 366 Pononlll Ilorvicos - emploY!lo benefLta 33,623 33,911 288 pu~chll~ed profoselonal ond . technical se~vLcoll 1,81313 2, L60 3613 SuppLLes 36.5/11 3~.S7a 29 201..61\8 2a5.7H 1.0/13 cOllllllunity Oollege oducation pt'ograllls Other pu~chased se~vlces ---1~1. 3113 3111. 5132 3,192 . (Oontlnuod) . - 21 - I", H~:l:lI/IN ICBllll/lG /Il\~:/I sCIIOl)l. IllBTlUG'l' GElmw. ("UNI) H'I'/I'l'L\H~~N'l' 131' E)(I'ENIH'l'UI\~:S (Gont I d, ) YE^~ ~ND~P JUNE 313, 19?7 ,.., l':XIIOl,<\l tlll:oa J.\.Y.!Jw ''1 suppo~t ~orvIcos - Vllp LL P" ~oonno 1 'orsonul so~vloos - oulurlos $ (,l9,Jl)8 $ 620,558 $ /.'o~sonlll lIervlcos - olllpll)YOO honon to 162,95l 1()2,<J65 'll~chllllOd profosoLrlllnl ulld tochnIcnl ~Qrvll:QS 2'l,5')11 23,598 Othor purchased ~o~VIoos 1,2LIJ 1,6713 SU~P1Le~ 8,Q7L 8,8la Qt e~ objeots 211, 50Q 815,31)//, _ ~l8, lQ~ 5up~ort ee~vicos ' InlltrllctIonul staff e~eonlll ~e~vIcos . sulu~lea 6813,1395 6813,529 'erllonnl Ilorvlces . olllployoo bonefIto 193,3138 193,838 l'u~challod p~ofosslonul ond technIcnl so~vlcoo 15,915 21,6111 Othe~ purcbased oorvleeo 2,681\ 2,71/. suppLLos 113,692 a3,7117 pro\le~ty 22,0013 22,1300 Other objocto 33,956 31. .115 1. 031.1\52 I.Q38M.!1. Support ~ervicQ~ - odminIstration 'e~llonal Ile~vicos . ~alnrles 1,1356,888 1,058,387 'e~~0~1I1 services . employee bone tL t~ 295,692 296 ,010 PUrcha~Qd p~ofessional and cochnlcal so.vIce~ 129,656 1311,6131 purchased ~roperty servIces 22,/1113 22,51313 Otber pU~c allod 1l0rvIcell 29,6~9 33,1321 SU~Plles 27,7 3 28,1371 at er objects 36,aa2 36,992 1.598,850 1. 6139,582 sUP~Q.t se\:vlcoe . pupIL hoalth e~sQnal se~vicQs - sHlrtrioo 223,773 223,8113 'o~sonal 1l0~vicQa . olllployeo beno fl ts 63,9133 61.,371 PUl'ohaud p~ofosslonal lInd techniclIl so~vlcos 929 1,21313 ather pu~chnsQd so~vIcoa 721) 815 SU~PLLes 5,965 5,973 atler objects 1151, 51313 295,m 296,7132 ,., .. fit .. . . .. (Oontinued) . 22 ' II; Va.iUllce Ilavo~able !.Illltjlvorable) 1,250 12 59 1.51 739 286 2.797 I,VI 530 5,726 28 55 -0- 15~ 6,932 1,/199 318 11,91'5 913 3,392 298 1913 113.732 713 1168 271 86 8 1.6 9119 ,., ,"l H~:CH/lNICSllUR() Ml~/I sCIlt)Ol. IHS'l'IIIC'I' G~NEII/lJ, FlINl) Sr/ln:HEN'f aF EXI'~N1H'l'UII~:S (COllt' d, ) YMII ENl)EP ,/UNl\ 30, 1 ')')7 VII~~anCe /i'1,IVCJrab 10 r1 l\XJlCllldI tllJ.:!lJi llli.Ilw .L!l.u.tAvo..."b le) SUppCJ~t 1I0~vlcell - bUIlInolls Ve~lIonal sel.'vicos . 1I11~IH'loa $ ll.5, au'! q 11,6 ,I. 1 7 $ 6113 Veuol,al IIOrvicos . ompl'lyee hellofLts '18,5'12 1.8,555 13 l'ul.'chMlod p~llfollslonal and ,.. techn~clll sorvlcell 1'),916 19,96') 53 athe~ pu~challod sorvlcos 11,7101. 1.,766 22 SU~PLLOII n,5()7 26,5H 5,021. at o~ objects 11.825 5.399 571, 21,S,3111 251.637 6.296 ". Oporation and maintonllnce of pll1nt servlcos l'e~sonal Ilervicos . slllarLell 6II6,6118 652,6136 5,918 l'ersllnal Ilel.'vices . employoo bonofits 239,275 239,692 l,l7 l'urcnllsod ~~oporty servlcoe 516,01.1. 516,381 370 Otho~ pu~c ased Ilo~vlcos 52,679 53,1.68 789 lit SuppLLOII 1.59,9611 1.613,382 418 J?rllpe~ty 13,7132 13,750 1,8 athor objectll 9.376 9.873 1197 l.937,695 1.91.6.152 _1Wt.ll Student transpol.'tatlon sorvicell If l'e~sllnal ae~vices - oalarLes 16,1131 16,5131 1,013 l'euonlll so~vlcolI . omployee bonofLts 1.,1390 1.,1131 11 athe~ pUl.'chllllod so~vlcos 70l,65a 717,7110 16,090 SuppLLOII 33,001. 38,131313 ,1.,996 l'~operty 31313 750 11513 755. VIS 777,092 21.9/17 . Contral Ilorvlcell Supp 11011 6,777 7,13130 223 athor lIupport Ilo~vloos Othe~ purchalled sorvlces ~ 9.L 77 89,293 116 . (Contlnuod) , 23 . . 21, - "" .., H~~Cll/lN ICllllUIHl /Il\F.1\ SCHOOJ.. lH S'I'~lC'l' GENEJ\/lJ.. FUNO S'I'/ln:H~:N'I' 01" EXI'F.Nnl'I'W~S (CQnt'd,) YF./lR F.NDEn JlINF. 313, 1997 See accompllnyLng repo~t on supplelllenta~y Lnfo~matlon, ~ ... .., /., HECII/lNIOSIlUllG /lRE/I SGJlOQI, IHS'l'IUc'l' CONS'I'/.\,lIC'I'IaN /IN/) CI\PIT/Il. /.l.E5E~V!': fllNllS S'I'A'I'EHE~l' 131' /.l.gVENUE /lNI> EXVENlH'I'UL\ES YE/lR ENDED .JUN/! 313, 1997 I " n GllpLtal &lD.oJ.l.tJ:.ll.ll.tJ..on ~o'1erve .~ovonu/j Invlllltmont Incolllo $ 3.8.968 $ 6/..M7 " !':1lpendltu):OIl Oapltlll expendIturoll 21.1,852 217,983 T):anllfo~ to Food servico fund (capital Itolllll) .0- 8,589 Total exponditu):oll 21.1...a..12. 226,572 ... Excesa (de fie ieney) o f ~avonuo ovo~ exponditu~oll $ Q02,68/1) $ (16~.125) lit .. . . Soe accompllnyLng repo):t on supplolllenta~y InformatIon, , " - 25 - ~ ..., , HECJ"AN~GSIlUI\() /I~E/I sCIIQal. OISnHC'l' SVEG~/ll. /lEVEtiVE Ii'UNP - ^111I.~TIC /lSSaCI/I'l'IQt'l Sl'/l1'Jl:IiEN'1' OF l\~VENVE /lNP f.X~~NPIl'WES YE/I~ ENDEO JlIN~ 313, 1997 'J /levonue Soaoon tIcketll Football gllto J~, lIil5l1 gate llallkotbaU gllte Socce~ gate Volleybnll gato Wreotllng gllte V~ogrlll1l salos J..oo t oquipment GoH tournamont V~ogram ad. General Fund I"l lilt 10tal revonue .. Expenditu~u rootball Jr, HIgh Gi~h' Ilports Bnoke tball WrostLLng . Swimming Baooball Soccor Trllck and c~oso Cl)Unt~y Colt and tennis Weight room' Stato tou~nomont 1I110\;'lIllcO Training supplioll pue'l subsc~iptionll and meetinge Vurchased sorvicoll Hisco lloneouo Banquot qol~ tournament ',' lit . 10tal oxpenditu~oll .. Excoes of ~evonue OVer oxpenditures Soe accompanyIng report on Ilupphmenta~y inforlnar.lon, ... , 26 . I.J $ 9,2l5 33,369 632 16,266 3,79f1 1,826 1.,716 l,033 2,81,5 6,778 1.,998 35,aCD 1213, (j~/, 21,636 19,766 23,279 5,808 3,872 2,3117 8,836 3,232 5,742 5,130/. 915 1,852 11,1,2f1 , 2,323 3,017 1,78 524 2,1/,6 U5,2Q3 $ 5.1+91 , , I ,I I I \,.,1",. ;-' "I I: I~; t/'i ~I .. .." "i", I'"~ , , "" ' I . 1'" 'f.: I. i ',~ ) I I , '} f" , , I : " 'i" .~ II,.) '" ," '. I I " ,(, I " . , 'I, I,' I , , ) ~. fl I.) :t ~ }'lj J '::j rr:. () J ~ ~ .~ ~ ~ il ~t