Loading...
HomeMy WebLinkAbout00-07444 -'---',;.:..", '" ,,;CO""~ I--, -'0 "_'-,CL ~"" ~ ,-', . . . . MECHANICSBURG AREA SCHOOL DISTRICT MECHANICSBURG, PENNSYLVANIA JUNE 30, 2000 . . . . . . . =~ ., -~ ." ",'C" ""' o. ,,, . . . INDEX . Independent auditors' report Combined balance sheet - all fund types and account groups - June 30, 2000 . Combined statement of revenue, expenditures and changes in fund balances - All Governmental Fund Types - year ended June 30, 2000 Statement of revenue, expenditures and changes in fund balances - actual and budget - All Governmental Fund Types - year ended June 30, 2000 . Statement of revenue, expenses and changes in fund balance/retained earnings - Food Service Fund - year ended June 30, 2000 . Statement of cash flows - Food Service Fund - year ended June 30, 2000 Notes to financial statements - June 30, 2000 Supplementary information . . . . , ..1 ....~. ." , ~'~ -.0',',' ,. ,'.;'~,:"', , '~-- .:.,'~;:: Page Number 1 2 3 4 5 6 7 8 - 21 22 - 31 - "", ,. '" -;~, ,,' ,". ,',~" . '~"""" '~~'f&f . GREENAWALT & COMPANY, P.C. JAMES E. LYONS tlOWARD R. GREENAWALT OU!EDON Il. HOFfMAN JOHN H. KUNGLER DEBORAH j. KI!ll Y R, A. GREENAWALT (1~1983) A. A. REIDINGER (REI1RID) C. El)WAlU) ROGERS. JR. CERTIFIED PUBLIC ACCOUNTANTS 400 WEST MAIN STREET MEOtANICSBUFtG. PENNsvLvANIA 17055 (717) 766-4763 FAX 17171 766-2731 62 WEST POMFRET STREET CARUSLE. PA 11013 (117) '.J.4822 FAX (717) ZS8-9372 . INDEPENDENT AUDITORS' REPORT . Board of School Directors Mechanlcsburg Area School District Mechanicsburg, Pennsylvania . We have audited the accompanying general-purpose financial statements of Mechanicsburg Area School District as of June 30, 2000, and for the year then ended. These general-purpose financial statements are the responsibility of the District I s management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit. . . We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general-purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general-purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general-purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. . In our opinion, the accompanying general-purpose financial statements present fairly, in all material respects, the financial position of Mechanicsburg Area School District at June 30, 2000, the results of its operations, and ,the cash flows of its Food Service Fund for the year then ended in conformity with generally accepted accounting principles. . . Our audit was conducted for the purpose of forming an opinion on the general-purpose financial statements taken as a whole. The supplementary information is presented for purposes of additional analysis and is not a required part of the general-purpose financial statements of Mechanicsburg Area School District. Such information has been subj ected to the auditing procedures applied in the audit of the general-purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general-purpose financial statements taken as a whole. . - 1 - . MEMBERS _ AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS - PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS ~ ' '. . Board of School Directors Mechanicsburg Area School District Mechanicsburg, Pennsylvania .. ~ "~' '~" , -~"'\',"" "_, '.' ,~ ~~ __ ' .' -e'; . 'y-d;; In accordance with Government Auditing Standards, we have also issued reports dated August 22, 2000, on our consideration of Mechanicsburg Area School District's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. . . . August 22, 2000 Mechanicsburg, Pennsylvania . . - 2 - ~~~ e- , I . , GREENAWALT & C ~~ P.C. i1ilii!l:~'~' '"".",~~"",,,. ~',\!']i!liili'J!",,~~i;~%,,~~~~~,m~,\Iijf~t>l!lt~'"'"1. ilillrlllWi:l'IIi" ,', ~.~i;[~ MECHANICSBURG AREA SCHOOL DISTRICT COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30, 2000 Assets and other debits Cash and cash equivalents $ Investments Due from other funds Accounts receivable Delinquent taxes receivable (net of allowance for uncollectibles, $ 133,965) Inventory Land, buildings and equipment (net of $ 108,437 accumulated depreciation) Amount to be provided for general long-term debt Total assets and other debits Liabilities Payroll and benefits payable $ Accounts payable Deferred revenue Due to other funds Due to student organizations Bonds payable Compensated absences Total liabilities Fund equity and other credits Invested in general fixed assets Fund balances! retained earnings Reserved Unreserved Total fund equity and other credits Total liabilities, fund equity and other credits General 873,931 4,936,170 85,755 935,277 294,273 $ 7,125,406 1,760,827 551,801 193,477 11,534 239,563 2,757,202 4,368,204 4,368,204 $ 7,125,406 i"'~ Governmental Fund Types Athletic Association $ 6,082 o Construction $ 33,993,665 119,420 $ 34,113,085 $ 161,380 161,380 33,951,705 33,951,705 $ 34.113,085 The accompanying notes are an integral part of these financial statements. "O,~~,~>~, ' - 3 - <~ - '."- $ 6,082 $ 6,082 6,082 $ 6,082 ~, ,", ,~ I: Capital Reserve .~ t ~ ~ ' r , I e! I I .1 I ii :1 il ,j ell "I 1:,1 ,I II i .: ,I II I' II I " el I $ 833,676 11,534 $ 845.210 $ 25,089 . 2S,089 ., 820,121 . 820,121 $ 845,210 . . " ~ ',,",', c" .-:~ ::" "^ I u" , ,,,,-,",,. "H !.: ,~,",';do.,. .-~;; ,,~ c . . Proprietary Fund Types Fiduciary Fund Types Account Groups Debt Food Trust and General General Long- Service Service Aqency Activities Fixed Assets Term Debt . $ $ 103,464 $ 100 $ 297,495 $ $ 4:5 61,900 . $ 45 $ 260,646 $ 62,000 $ 297,495 $ 22.071,005 $ 51. 713, 895 . Y~~""'~-",.~!tH~~~~-.JimJ~ -'t~"',IIlili lal;liil:ru ~' ~- ~.."" .~' < .,,,--'- Ii ~. -! I t , I I .r d I , ,I Ii -II ~I Ii .11 'I II 'I II I MECHANICSBURG AREA SCHOOL DISTRICT COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 2000 General Revenue Local sources State sources Federal sources $ 20,970,958 $ 7,150,309 248,774 28,370,041 17,219,286 7,480,664 708,871 23,400 25,432,221 2,937,820 Total revenue Expenditures Instruction Support services Operation of noninstructional services Facilities acquisition, construction and improvement services Total expenditures Excess of revenue Over (under) expenditures Other financing sources (uses) Bond proceeds Bond issuance costs Sale of fixed assets Debt service payments Transfers from other funds Governmental fund transfers Food service transfers 10 (13,061) 366 (2,613,777) (147,880) Total other financing sources (uses) (2,774,342) Excess of revenue and other financing sources over (under) expenditures and other financing uses 163,478 Fund balances, July 1, 1999 4,204,726 Fund balances, June 30, 2000 $ 4,368,204 Athletic Association Construction 94,399 $ 739,933 94,399 739,933 132,58S el! I 1,359,185 132,585 1,359,185 (38,186) (619,252) -I 24,995,000 (287,136) - 40,400 . 40,400 24,707,864 2,214 24,088,612 3,868 9,863,093 . $ 6,082 $ 33,951. 705 The accompanying notes are an integral part of these financial statements. - 4 - < ."- "- ~- . . , ."" .:. I ,'~ '" , ',",.' ,,<" ""~h'",~:",":"" ~i . . . Capital Debt Reserve Service $ 29,907 $ 703 . 29,907 703 . 541,292 541,292 o . (511,385) 703 . (1,804,260) 790,550 1,782,827 . 790,5S0 (21,433) 279,165 (20,730) . S40,9S6 20,775 $ 820,121 $ 45 . . :;;'",,^..'" ~~,..L Iitllti!l,i1Urg,~Mi!m:'M!!.ti~~lMhM;i:~L!l,~&t.!",ff!~l9!.'~~" ~ ;ll'il!i'-l~.llillllillfj '~.!r" llIilliiIi!.""''- MECHANICS BURG AREA SCHOOL DISTRICT COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES - ACTUAL AND BUDGET ALL BUDGETED GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 2000 Actual Revenue Local sources State sources Federal sources $ 20,970,958 7,150,309 248,774 Total revenUe 28,370,041 Expenditures Instruction Support services Operation of noninstructional services Facilities acquisitions, construction and improvement services 17,219,286 7,480,664 708,871 23,400 Total expenditures 25,432,221 Excess of revenue over (under) expenditures 2,937,820 Other financing sources (uses) Bonds proceeds Bond issuance costs Sale of fixed assets Debt service payments Transfers from other funds Governmental fund transfers Food service transfers 10 (13,061) 366 (2,613,777) (147,880) Total other financing sources (uses) (2,774,342) E~cess of revenue and other financing sources over (under) expenditures and other financing uses 163,478 Fund balances, July 1, 1999 4,204,726 Fund balances, June 30, 2000 $ 4,368.204 General Fund Budget $ 20,202,755 6,948,481 211,579 27,362,815 17,231,206 7,499,564 712,449 24,000 25,467,219 1,895,596 (13,294) (1,914,477) (147,880) (2,075,651) (180,055) 3,441,037 $ 3.260.982 ... ~~ ' .- . I I e! i !: Variance Favorable (Unfavorable) .' I i $ , [ ,I I II ~ .1 ,I II ~ I 'I 768,203 201,828 37,195 1,007,226 11,920 18,900 3,578 .' I 600 34,998 . 1,042,224 10 233 366 (699,300) . I . (698,691) 343,533 .' I 763,689 $ 1.107,222 The accompanying notes are an integral part of these financial statements. . - 5 - ~" . ~ -- "~'-', ' , 'I,~,--; o' ':.1 ,-- . . Athletic Association Fund Variance . Favorable Actual Budqet (Unfavorable) $ 94,399 $ 68,400 $ 25,999 . 94,399 68,400 25,999 . 132,585 ].13,400 (19,18S) 132,585 ].13,400 (19,185) . (38,186) (45,000) 6,814 . 40,400 45,000 (4,600) . 40,400 45,000 (4,600) . 2,214 o 2,214 3,868 o 3,868 $ o $ 6.082 6.082 $ .~-',~ 00' , ,'-', '"-''' - - ~ ; .' "0" ~. I,;.;.,., ~, " 0 "'~, , .~, . MECHANICSBORG AREA SCHOOL DISTRICT STATEMENT OF REVENOE, EXPENSES AND CHANGES IN FOND BALANCE/RETAINED EARNINGS ALL PROPRIETARY AND NON-EXPENDABLE TROST FOND TYPES YEAR ENDED JUNE 30, 2000 . Proprietary Fund Food Service . Operating revenue Sales Net ,investment earnings $ 687,040 $ 687,040 435,880 337,984 13,003 27,636 9,294 117,766 56,380 68,268 20,266 1,086,477 (399,437) Total operating revenue . Operating expenses Food and milk Labor Custodian wages Supplies and services Repairs and maintenance Employee benefits Otilities and fuel Administrative salaries Depreciation Scholarship awards . Total operating expenses . Operating income (loss) . Nonoperating revenue State sources Meal subsidies Social security and retirement subsidies Federal sources Meal subsidies Donated commodities Interest earned 26,414 24,513 156,352 60,175 8,374 275,828 (123,609) 6,425 147,880 30,696 107,448 $ 138.144 $ . Total nonoperating revenue Income (loss) before transfers . Services contributed by General Fund Equipment purchases by Capital Reserve Fund Scholarship transfers from Activity Fund Net income Fund balance/retained earnings, July 1, 1999 Fund balance/retained earnings, June 3D, 2000 The accompanying notes are an integral part of these financial statements. - 6 - s..' < "'.C'2. _, Fiduciary Fund Non-expendable Trust 3,384 3,384 3,375 3,375 9 o 9 L 384 1,393 60,607 62.000 ,'" I ~ ;" '~--- ." ,') :1 '"' "- "\,,' " " ~ '',;:, " ~ " , ,- , ' './. , M"~' ~""::': MECHANICSBURG AREA SCHOOL DISTRICT STATEMENT OF CASH FLOWS ALL PROPRIETARY AND NON-EXPENABLE TRUST FUND TYPES YEAR ENDED JUNE 30, 2000 . . . Ope"ating activities Operating income (loss) Adjustments to reconcile operating loss to net cash used in operating activities Depreciation Donated commodities earned S~rvices contributed by other funds Asset additions contributed by Capital Reserve Fund Decrease (increase) in assets Inventories Increase (decrease) in liabilities Accounts payable Due to other funds Defe'rred revenue Compensated absences . . Net cash provided by (used) in operating activities . Noncapital financing activities Subsidies Scholarship transfers from Student Activity Fund Net cash provided by noncapital financing activities . Investing activities Earnings on investments Net increase in cash and cash equivalents and investments . Casn and cash equivalents and investments, July 1, 1999 Casn and cash equivalents and investments, June 30, 2000 Supplemental disclosure of noncash financing activities Donated commodities received Services contributed by General Fund Equipment purchases contributed by Capital Reserve Fund Proprietary Fund Food Service Fiduciary Fund Non-expendable Trust $ (399,437) $ 20,266 60,175 154,305 (6,425) 14,761 (130) 9,615 (14,020) 3,223 (157,667) 9 9 207,279 1,384 207,279 1,384 8,374 0 57,986 1,393 45,478 60,607 $ 103,464 $ 62.000 $ 43,851 $ 147,880 $ 6,425 The accompanying notes are an integral part of these financial statements. - 7 - ,~~I "-,",'", .,-.1,,'. . ';,.. ,o_~:r.': ' f" "","'" . ~"Y" c ,.' 'Cw'_': ,>~ ,",',,"j,'_" (--.""'j . . MECHANICSBORG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JONE 30, 2000 1. Reporting entity . Mechanicsburg Area School District is the level of government which has oversight responsibility and control over activities related to public school ~ducation. The report includes services provided by the District to residents within the boundaries of the Cumberland County municipalities of Opper Allen Township, and Shiremanstown and Mechanicsburg Boroughs. Services provided include a comprehensive curriculum for primary and secondary education as well as special education and vocational education programs. The District receives revenue from. local, state and federal sources and must comply with the requirements of these funding sources. . . Criteria established in Governmental Accounting Standards Board Statement Number 14 were used in determining the entities to be included in the reporting entity. These criteria include basic items such as financial interdependency, selection of governing authority, designation of management, ability to significantly influence operations, accountability for fiscal matters, scope of public service and special financing relationships. All operations of the District are included in the reporting entity. . There are no component units that meet the above criteria for inclusion in the reporting entity. However, the District is a participant in three j ointly- governed operations, each of which is a separate legal entity that offers educational services to the District and its residents. Each entity serves many school districts, and are therefore, not included in the reporting entity. . Capital Area Intermediate Unit services and programs. provides special education Cumberland-Perry Area Vocational-Technical School provides vocational and technical education services and programs. . Harrisburg Area Community College education services and programs. provides community college 2. SUlnmary of significant accounting policies . The accounts of Mechanicsburg Area School District are maintained on the basis of accounting practices prescribed or permitted by the Manual of Accounting and Related Financial Procedures for Pennsylvania School Systems, issued by the Pennsylvania Department of Education in accordance with the provisions of the School Laws of Pennsylvania. These practices are in conformity with generally accepted accounting principles as applicable to governmental units. A summary of the more sign~ficant accounting policies is as follows: . - 8 - . ._1 ~' ,> , " ~ d' ,<-' '--"<;" , "~ . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2000 . 2. Summary of significant accounting policies (Cont'd) Fund accounting . The accounts of the District are organized on the basis of fund types and account groups. Each fund type may consist of several different funds. Each fund is a separate entity with self-balancing accounts which comprise its assets, liabilities, fund balance/retained earnings, revenues and expenditures/expenses, as appropriate. . The fund types and ,account groups utilized by Mechanicsburg Area School District are as follows: Governmental Fund Types . Governmental Funds are those through which most governmental functions of the School District are financed. The acquisition, use and balances of the School District's expendable financial resources and the related liabilities (except those accounted for in proprietary funds) are accounted for through governmental funds. The measurement focus is upon determination of changes in financial resources, rather than upon net income determination. The funds included in this category are: . . General Fund The General Fund is used to account for all financial transactions not accounted for in another fund. Revenues are primarily derived from local property, per capita and occupation taxes, and State and Federal distributions. Many of the more important activities of the School District, including instruction, administration of the School District and certain nonistuctional services are accounted for in this fund. . Construction Funds - The Construction Funds are used to account for the proceeds of bond issues and their corresponding expenditures. The fund balances at June 30, 2000 will be used for capital improvements. Capital Reserve Fund - The Capital Reserve Fund is used to account for special capital projects. . Special Revenue Fund - Special Revenue Funds are used to account for the proceeds of specific revenues that are restricted to expenditures for specified purposes. The Athletic Association Fund is a Special Revenue Fund. Debt Service Fund - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long- term debt principal, interest and related costs. - 9 - " --'I>, . I.L. ,",<' I "" , "'--i ". ;"4. '" ',"'"," ;ii .0.;';';;'i . . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 2. Summary of significant accounting policies (Cont'd.) . Fund accounting (Cont'd.) Proprietary Fund Types Proprietary Funds account for operations that are financed and operated in a manner similar to private business enterprises: . Food Service Fund - The Food Service Fund is used to account for the financial transactions associated with the operations of the cafeterias. Fiduciary Fund Types . Fiduciary Funds (Trust and Agency Funds) are used to account for assets held by a governmental unit in a trustee capacity or as an agent for other funds or entities. Nonexpendable Trusts are accounted for in essentially the same manner as Proprietary Funds. Agency Funds are custodial in nature and do not involve measurement of the results of operations: . Trust Accounts Accounts for contributions to and earnings on scholarship funds donated to the District, payments of scholarship funds to selected students. interest and for . Activity Fund - Accounts for programs operated and sponsored by various clubs and organizations within the schools. Activity funds are Agency Funds which are separately accounted for because of legal requirements. Account Groups . These account groups are not funds. They are only concerned with the measurement of financial position and are not involved with the measurement of results of operations. General Fixed Assets - Accounts for the District's investment in land, buildings, and equipment. . General payable years. Long-Term Debt and accumulated Accounts for general obligation compensated absences payable in bonds future . - 10 - . . ""- ,". , , ~ , ,l . <'x'', 'i'~ " , . o. m ~,,'" ~" " . . MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 2. Summary of significant accounting policies (Cont'd.) . Basis of accounting ~he accounting and financial r~porting treatment applied by is based on their measurement focus, which determines expenditures are recognized. the different funds when revenues and . Governmental Fund Types These funds are accounted for using the "current financial resources" measurement focus, which is a modified accrual basis of accounting. . Revenues are recorded when susceptible to accrual (both measurable and available) . Available means collected within the current period or soon enough thereafter to pay current liabilities. . Expenditures are generally recognized when the related fund liability is incurred. Exceptions to this general rule include principal and interest on general long-term debt which is recognized when due. Disbursements for inventory type items and prepaid expenses are considered expenditures at the time of purchase. Proprietary Fund Types . The Food Service Fund uses the "flow of economic resources" measurement focus, which is a full accrual method of accounting. This fund accounts for operations using accounting pronouncements required for private business enterprises, unless those pronouncements conflict with or contradict governmental accounting pronouncements. . Donated commodities are inventoried at an estimated cost value when received. Inventories (valued on the first-in, first-out method) are recorded as an asset, and the portion represented by donated commodities is recorded as deferred revenue. . Food service straight-line recorded as depreciation) equipment is capitalized, with depreciation (computed on the method using an estimated useful life of S to 12 years) an bperating expense. The equipment (net of accumulated is offset by a reserved portion of retained earnings. Compensated absences are recognized as operating expenses and the cumulative amount is recorded as a liability within the Fund. . - 11 - . - . . . . . . . . 0___ ,~",. ,-;;...< ".'-" ~.~"':,' "(ic..", ;,', ~~ MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 2. Summary of significant accounting policies (Cont'd.) Basis of accounting (Cont'd.) Fiduciary Fund Types (Trust and Agency Funds) These funds use a modified accrual method. They are custodial in nature and are not involved with the measurement of results of operations. Account Groups Land, buildings and equipment are presented at historical cost or estimated historical cost where the original cost is unknown. Depreciation is not computed on these assets. Long-term debt is offset by an amount to be provided by future taxation or other revenue sources. General obligation bonds payable in future years are recorded as District debt. Interest on bonds is recognized when such interest is due. Interest on Capital Appreciation Bonds is accreted annually and added to the amount of bonds outstanding. Compensated absences are presented using the vesting method. Unused vacation leave is minimal. Sick leave is granted as appropriate, and medical evidence may be required. Provision is made annually in the budget for the cost of substitute personnel. There is limited payment for accumulated sick leave at the time of retirement. The gross amount of unused compensated absences is recorded in the General Long-Term Debt group of accounts, General Fund and Food Service Fund. Cash and cash equivalents For purposes of the Food Service Fund and Nonexpendable Trust Fund statement of cash flows, the District considers all deposits purchased with an origin maturity of three months or less to be cash or cash equivalents. Budgets The District adopts, prior to the beginning of each fiscal year, an annual budget for the General Fund and Athletic Fund. A part of this budget process is the adoption of local tax rates, subject to various legal restrictions. The District approves subsequent budget revisions (primarily transfers between expenditure categories), as necessary. Unused appropriations expire at the end of the year. - 12 - , I, '~' ",,--, , ". ~..' "~,~ ~"'" ',~ " ~"~;'-~,;."; k<',;I;;;:;'.~"".,; ,~ , '1 "'<'~ . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 . 2. Summary of significant accounting policies (Cont'd.) Revenue - Local sources . Real estate, residence and occupation taxes are levied as of July 1 with a legal, enforceable claim against the taxpayer and/or property. These taxes are recognized as revenue when received during the fiscal year or soon enough thereafter to be susceptible to accrual. . An allowance for uncollectibles is recorded for taxes levied for the current fiscal year and estimated doubtful of collection within one year after the end of the fiscal year. Other tax revenues, including taxpayer-assessed revenues such as earned income taxes, are recognized as revenue when received during the fiscal year or soon enough thereafter to be susceptible to accrual. . Revenue - State sources State subsidies due the District as current fiscal year entitlements are recognized as revenue in the current fiscal year. . Revenue - Federal sources Federal program funds applicable to expenditures in the current fiscal year but expected to be received in the next fiscal year are recognized as revenue in the current fiscal year. . Inter-fund transactions . Expenditures by the General Fund for the benefit of other funds are in the respective statements. of revenue and expenditures/expenses, management's estimates. The District does not attempt to allocate which benefit the other funds due to the difficulties associated measurement of such benefits. reflected based on all costs with the Utilities, salaries, etc. paid by the General Fund for the benefit of the Food Service Fund amounting to $ 147,880 have been reflected on the respective statements of revenue and expenditures for the year ended June 30, 2000, based on management's estimates. . Pension plan Substantially all full-time and part-time employees of the District participate in a cost-sharing multiple employer defined benefit pension plan. The District recognizes expenditures or expenses equal to its contractually-required contributions, subject to the modified accrual basis of accounting in governmental funds. - 13 - ,'~ ~ ~ ~-" ,I.. , ,-':' " '. ',,:~''<'C:C1.o.:: ";t;):',.,_,c ~;S~: . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 . 3. Cash and cash equivalents . Cash and cash equivalents (other than $ 60 cash on hand) consists of checking, savings and treasury management accounts deposited with financial institutions. Cash and cash equivalents are categorized as follows: Carrying Bank Value Balance Insured (FDIC) $ 200,000 $ 200,000 . Collateral held in District's name Collateral not held in District's name 1,081,012 1,496,648 $ 1.281.012 $ 1.696,648 4. Investments . Investments are categorized into these three categories of credit risk: 1. Insured or registered or securities held by the District or its agent in the District's name. . 2. Uninsured and unregistered, with securities held by the counterparty's trust department or agent in the District's name. 3. Uninsured and unregistered, with securities held by the counterparty or by its trust department or agent but not in the District's name. . The investments, whose market value approximates cost due to the short term nature of the investments, are categorized as follows: 1 Category 2 3 Carrying Amount Fair Value . U.S. Government Agency Securities $ $ $ 18,293,346 $ 18,293,346 $ 18,290,231 Mutual Fund 45 45 45 $ o $ o $ 18,293,391 18,293,391 18,290,276 . Pooled investment accounts 21,532,065 21,524,369 Total investments $ 39,825.456 $ 39.814.645 The types of authorized investments are limited by State regulations. Investment policies followed during the year did not significantly alter the categorization of investments shown above. - 14 - ,'I". ""' I,. '. -,,<;,'",',' ,,,'," .' o_,,",ho_ -,' iOi';i,,-r,: ",',' '~,;", . . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 5. Delinquent taxes receivable Delinquent taxes receivable at June 30, 2000 consist of the following: . Delinquent taxes receivable held by delinquent collectors Less: allowance for uncollectibles Real Estate Personal Total $ 318,422 $ 109,816 $ 428,238 95,530 38,435 133,965 $ 222.892 $ 71.381 $ 294.273 . Net Delinquent taxes receivable 6. Accounts receivable General Fund accounts receivable at June 30, 2000 consist of the following: . Subsidies Due from other governmental units Investment income Other $ 264,373 639,909 17,701 13,294 . $ 935,277 7. Land, buildings and equipment . The schedule below presents estimated historical cost of land, buildings and equipment. These amounts were obtained, in the most part, from a valuation report prepared as of June 30, 1994 and updated by management to June 30, 2000. It includes equipment held in the Food Service Fund. . Land Land improvements Buildings Equipment July 1, 1999 Additions Disposals June 30, 2000 $ 416,983 $ $ $ 416,983 1,106,556 421,640 1,528,196 12,710,247 77,026 12,787,273 6,943,012 546,956 (151,415) 7,338,553 $ 21.176,798 $ 1.045.622 $ (151.415) $ 22,071.005 General fixed assets . Food Service Fund fixed assets Furnishings and equipment Accumulated depreciation $ 241,175 $ 6,425 $ $ 247,600 (88,172) (20,265) (108,437) . Totals $ IS3.003 $ (13.840) $ o $ 139.163 - 15 - . ,; . 'I~ ~-O,"",' ~'. ",0>.___,_, -~O ':.:~'~~'~.'" > ,,-- ,.' :::~1' . MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS ICont'd.) JUNE 30, 2000 . 8. Bonds payable A summary of changes in bonds payable for the year ended June 30, 2000 is as follows: . General obligation bonds/notes Beqinninq Interest Accretion New Issuance Proceeds Repayments Endinq Series of 1992, General Obligation Bonds 6.23%, Maturing 9/1/2005 $ 5,772,544 $ 339,475 $ $ 1,025,000 $ 5,087,019 . Series of 1998, General Obligation Bonds 4.0% to 4.6%, Maturing 2/15/2013 9,500,000 5,000 9,495,000 .. Series A of 1998, General, Obligation Bonds 3.9% to 4.3%, Maturing 9/1/2009 3,675,000 200,000 3,475,000 . Series of 2000, General Obligation Bonds 5.3% to 5.5%, Maturing 8/15/2016 4,995,000 4,995,000 . Series A of 2000, General Obligation Note, Emmaus Bond Pool, Variable Interest, not to Exceed (15.S5%), Maturing 9/3/2002 15,000,000 15,000,000 . Series B of 2000, General Obligation Note, Emmaus Bond Pool, Credit Facility (1) o . Series C of 2000, General Obligation Note 4.5% variable, Maturing 10/1/2016 5,000,000 5,000,000 $ 18,947,544 $ 339.475 $ 24,995,000 $ L 230, 000 $ 43.052.019 (1) Series B of 2000, General Obligation Note, Emmaus Bond Pool Credit Facility will not be used unless necessary to support the Series A of 2000, General Obligation Note repayment. The amount of the credit facility is $ 15,371,590. No withdrawals occurred during 1999- 2000. . - 16 - ,~=.l _ el",',;O,,-' "" 1,-,- ::~ . I .,'0 ':i-:'", -'. """ ;, '.',. ';.~,,,,,,, '0'" " -;,~, "~':::. . MECHANICS BORG AREA SCHOOL OISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd. JUNE 30, 2000 8. Bonds payable (Cont'd.) . The Series of 1992, General Obligation Bonds consist of Capital Appreciation Bonds. Interest accreted through the March 1 payment date of each year on the Capital Appreciation Bonds is added to the carrying value. The bonds are due semi-annually through September 1, 2005. . The Series of 1998, General Obligation Bonds are due semi-annually through February 15, 2013. The District has contracted with an architect to design a new middle school and has plans to renovate the current middle school and high s'chool with these proceeds. . The Series A of 1998, General Obligation Bonds are due semi-annually through September 1, 2009. The proceeds of these bonds were used to refund the Series of 1993 General Obligation Bonds. . The Series of 2000, General Obligation Bonds in the amount of $ 4,995,000 are due semi-annually through August 15, 2016. Proceeds of the issue will be used to construct and equip a new middle school, renovate existing elementary and secondary school facilities and pay costs of issuing the bonds. . Series A of 2000, General Obligation Note in the amount of $ 15,000,000 is none1ectoral debt issued through Emmaus General Authority. The Note is due September 3, 2002. No principal repayment is due until maturity. The District also issued Series B of 2000, General Obligation Note in the amount of $ 15,371,590 as a credit note made by Bayerische Hypo-und Vereins Bank, AG. There were no draws outstanding under this credit facility at June 30, 2000. The credit note will be utilized only in the event of default or inability to repay the principal of Series A of 2000, General Obligation Note. Proceeds of Series A of 2000, General Obligation Note will provide funds toward planning and construction of a new middle school, renovation and expansion of the high school, capitalize interest and pay the remarketing costs of issuance. . Series C of 2000, General Obligation Note in the amount of $ 5,000,000 is none1ectoral debt issued through the Emmaus General Authority's Variable Rate Demand Bond program. The Note is due October 2016. Proceeds will be used toward planning and construction of a new middle school, capitalize interest and pay issua.nce costs. . . Future maturities and debt service requirements are as follows: Series of 1992 Capital Apprecia'tion Yeilr Total Principal Interest Bonds (1 ) 2000-2001 $ 4,701,314 $ 32S,000 $ 3,351,314 $ 1,025,000 2001-2002 4,717,508 320,000 3,372,508 1,025,000 2002-2003 17,798,449 15,325,000 1,448,449 1,025,000 2003-2004 2,386,014 340,000 1,021,014 1,025,000 2004-2005 2,387,016 3S5,000 1,007,016 1,025,000 2006-2017 29,303,919 21,300,000 7,028,919 975,000 Totals $ 61. 294. 220 $ 37,965.000 $ 17.229.220 $ 6,100.000 (1) Reflects final maturity value of Capital Appreciation Bonds. . - 17 - ,. ~ . , '0" _ ~~ ;;"'''''~'" . . MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 9. Contribution to Food Service Fund . "Contribution to Food Service Fund" for the year ended June 30, 2000 includes the following estimated expenses charged to the Food Service Fund and paid through the General Fund: . Custodian wages Administrative salaries Employee benefits Supplies Utilities and fuel Social security subsidy Reti~ement subsidy $ 13,003 68,268 8,966 5,141 56,721 (3,109) (1,110) . $ 147,880 In addition, equipment purchases totaling $ 6,425 were paid by the Capital Reserve Fund. 10. Inter-fund transfers . The combined statement of revenue and expenditures for the year ended June 30, 2000 includes the following inter-fund transfers and contributions from the General Fund to the following funds which are recorded in the General Fund as budgeta~y expenditures: . Food Service Fund Athletic Association Debt Service Fund Capital Reserve Fund $ 147,880 40,400 1,782,827 790,550 $ 2.761.657 . . . - 18 - . ., L ',"-,', 'h. :'1: '-""'",0'"< C'.',.,':' ",,"';',', ,'"c,,'; " Lt;!i . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 11. Compensated absences . The General Long-Term Debt account group includes $ 8,661,876 representing the estimated gross amount of compensated absences, primarily sick leave, payable to all District employees if they were to use this accumulated leave prior to retirement. It was calculated by multiplying each employee's accumulated leave time by the current per diem rate. If an employee retires with unused compensated absences, the payout policy is as follows: . Emergency and personal No payout. Vacation (Administrative personnel) Paid at current per diem rate. . Sickness Paid at the per diem rate paid to a substitute teacher at time of retirement, based on a formula involving a percentage of accumulated sick days and years of service. The maximum is 50% of accumulated sick days after 20 years of service for the year ended June 30, 2000. . A summary of changes in compensated absences for 1999/2000 is as follows: Food Service Fund Jul y 1, 1999 Net Chanqe June 30, 2000 $ 1,418,626 $ (2,326) $ 1,416,300 6,959,850 285,726 7,245,576 $ 8,378.476 $ 283,400 $ 8,661.876 $ 19,553 $ 3,223 $ 22.776 . Administrators and support staff Teachers . 12. Pension plan . The District contributes to The Public School Employees' Retirement System (the System), a governmental cost sharing multiple-employer defined benefit pension plan. The plan is under the provisions of the PSERS Code (the Code), as amended. The plan provides retirement and disability, legislative mandated ad hoc cost-ot-living adjustments, and healthcare insurance premium assistance to qualifying annuitants. The System issues a cornprehensi ve annual financial report that includes financial statements and required supplementary information for the plan. A copy of the report may be obtained by writing to PSERS, P.O. Box 125, Harrisburg, PA 17108-0125. . The contribution policy is established by the Code and requires contributions by active members and employers. Acti ve members are required to contribute 5.25 percent of their qualifying compensation if they joined the plan before July 22, 1983, and 6.25 percent if they joined on or after that date. Contributions required of employers are based upon an actuarial valuation. . For the fiscal year ended June 30, 2000 the employer contribution rate was 4.61 percent of covered payroll, composed of 4.36 percent for pension benefits and .25 pe~cent tor healthcare insurance premium assistance. The Oistrictls contributions to PSERS for the years ending June 30, 2000, 1999, and 1998 were $ 706,207, $ 904,239, and $ 1,252,455, respectively. Those amounts are equal to the required contribution for each year. . - 19 - ,~ . , .". ,-' .-,,"" '.. . ;Q__,~ ",,-,-, ;:"'_i-l;',~" ;cY~t-~ . MECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 . 13. Post-employment benefits other than pension benefits . The District does not offer any post-employment benefits to retired employees other than pension benefits as discussed in Note 12. The District will, however, allow retired employees to remain in its group medical insurance plan upon payment of the cost of such coverage by the retired employee. 14. Operating leases . The District is obligated under various equipment, vehicle and modular classroom lease agreements at June 30, 2000. The following is a schedule of future minimum rental payments required under the operating lease agreements. Year Ending June 30 . 2001 $ 99,437 2002 99,437 2003 70,998 2004 15,198 2005 6,898 . Total minimum payments required $ 291. 968 15. Fund Balance Restatement and Reclassification Debt Service Fund . The beginning fund balance of the Debt Service Fund did not include funds available to pay bond interest at July 1, 1999. The beginning Debt Service Fund fund balance has been restated to reflect the available funds as follows: Debt Service Fund fund balance at July 1, 1999 as previously reported $ 12,305 . Additional funds available in Debt Service Fund 8,470 Debt Service Fund fund balance at July 1, 1999 as restated $ 20.775 . . Scholarship Fund . The Scholarship Fund fund balance was included with the Student Activities Fund in prior years. The Scholarship Fund fund balance has been reclassified as a fiduciary fund and presented as a non-expendable trust fund in the financial statements for the year ended June 30, 2000. The July 1, 1999 Scholarship Fund fund balance transferred was $ 60,607. - 20 - . , ~ L ,-" '" .:1.., ,. ,,'," ,'"', .o_~ . " '>-',e " ' '< ,",,,,,(;C,~ :;:'~';.""'"-"-i-:;;iL,;;s.~L'; . liJ~f . . MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 2000 16. Risk Management . The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District maintains commercial insurance qoverage covering each of those risks of loss. Management believes such cOverage is sufficient to preclude any significant uninsured losses to the District. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. . For State unemployment compensation laws, the District is self-insured, which is a common practice for local governmental units. Any unemployment claims are paid by the District on a quarterly basis as incurred. 17. Commitments and contingencies . The District's contract with its teaching staff is scheduled to expire June 30, 2001. . In the normal course of business, the District is subject to legal disputes and claims. The District does not anticipate any material losses from any pending or threatened litigation. In the normal course of preparing for the subsequent school has awarded bids for various supplies, fuel contracts, commitments in excess of routine requirements have been made year, the District etc. No major by the District. . The District is audited by the Commonwealth of Pennsylvania, Department of Auditor General. Findings, if any, from these audits could result in repayment of funds, or the receipt of additional funds. the the . The District participates in numerous state and federal grant programs which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and review by the grantor agencies; therefore, any findings or adjustments by the grantor agencies could have an effect on the recorded grants receivable and/or deferred grant revenues and on the related grant revenues and expenditures. The District is contingently liable for outstanding lease rental debt of Harrisburg Area Community College. . . - 21 - . '. "I., . . . . . . . . . . . . ,~..' /.- " ",,,.~ '! .. ",;"~," ~"~.~ ,;-",','w . 'T, SUPPLEMENTARY INFORMATION . , .~ '-', 'd '.'i.,' '" ,,!"~'ff..'" 'Jd~'kl~ '",;.,'!. = "_:ii.;' fj" \~ MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUE YEAR ENDED JUNE 30, 2000 . . Local sources Current real estate taxes Public utility realty tax Current per capita taxes Current Act 511 per capita taxes Occupation privilege taxes Current occupation taxes Real estate transfer taxes Earned income taxes Delinquent taxes, all levies Taxes . . Tuition and other payments from patrons Earnings from temporary deposits and investments Student activities Rent from School and other facilities Community services activities Miscellaneous revenue . Total local sources . State sources Basic instructional subsidy Homebound instruction Vocational education Migratory children Special education Special education grant Transport'ation Rentals and Sinking Fund payments Driver education Health services Social security Retirement Read to succeed Tuition - court placed students Link to learn Alternative education grant Miscellaneous grants . . . Revenue Budget Variance Favorable (Unfavorable) $ 13,484,782 $ 13,310,974 $ 173,808 186,438 180,536 5,902 75,535. 76,940 (1,405 ) 75,535 76,940 (1,405 ) 74,777 67,844 6,933 2,896,982 2,997,051 (100,069) 475,283 284,664 190,619 2,384,757 2,332,406 52,351 478,240 350,000 128,240 20,132,329 19,677,355 454,974 11,636 595,476 12,496 26,532 117,107 75,382 838,629 20,970,958 4,278,154 62 13,762 48 1,246,554 30,000 263,715 153,949 6,365 90,072 626,246 344,605 53,564 24,721 11, SOD 6,432 S60 7,150,309 (Continued) - 22 - 11,636 395,000 16,300 11,900 101,000 1,200 525,400 200,476 (3,804 ) 14,632 16,107 74,182 313,229 20,202,755 768,203 4,275,392 2,762 62 485 48 104,573 30,000 13,715 12,871 (635) 5,072 3,167 (30,069) 53,564 9,721 (10,500) 6,432 560 201,828 13,277 1,141,981 250,000 141,078 7,000 85,000 623,079 374,674 15,000 22,000 6,948,481 . . MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUE (Cont'd.) YEAR ENDED JUNE 30, 2000 . Variance Favorable Revenue Budget (Unfavorable) Federal sources MLK Service Initiative $ 2,810 $ $ 2,810 IDEA Part B 81,896 46,500 35,396 . Ti tle I 94,473 89,028 5,445 Ti tle II 3,226 10,007 (6,781 ) Title VI 38,624 48,173 (9,549) Drug free schools 23,745 17,871 5,874 Learn and Serve America grant 4,000 4,000 248,774 211,579 37,195 . Total revenue $ 28,370,041 $ 27,362,815 $ 1.007,226 . . . See accompanying report on supplementary information. - 23 - '"'--I,' . . ." '.', ;f! --~~,'4"",.',,~,',";~-j:< ~ """~;:I ,,' MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES YEAR ENDED JUNE 30, 2000 ';,'1, ' y, 0>'. . <,~ ~'__'H ,,'<_', - '''' ~~"""~,,,,:~,,:;;,.~, MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 2000 . . Support services - Pupil personnel Personnel services - salaries $ pers'onnel services - employee benefits Purchased professional and technical services Other purchased services Supplies Other objects . . Support services - instructional staff Personnel services - salaries Personnel services - employee benefits Purchased professional and technical services Purchased property services Other purchased services Supplies Property Other objects . It Support services - administration Personnel services - salaries Personnel services - employee benefits Purchased professional and technical services Purchased property services Other purchased services Supplies Other objects . . Support services - pupil health Personnel services - salaries Personnel services - employee benefits Purchased professional and technical services Other purchased services Supplies Other objects . Expenditures 623,S63 127,452 28,336 2,663 37,176 635 819,825 755,272 167,396 2,923 5,335 3,022 136,481 197,996 52,788 1,321,213 1,071,839 237,704 155,650 22,447 48,047 48,068 33,418 1,617,173 279,325 73,808 965 718 8,281 282 363,379 (Continued) . - 25 - Budqet $ 623,645 129,672 29,708 2,670 37,181 650 823,526 755,302 167,488 3,586 5,400 3,050 136,534 198,000 52,833 1,322,193 1,076,130 238,033 15S,704 22,450 48,127 48,104 35,162 1,623,710 279,340 73,878 1,200 875 8,290 300 363,883 ~'"-,i.: Variance Favorable (Unfavorable) $ 82 2,220 1,372 7 5 15 3,701 30 92 663 65 28 53 4 45 980 4,291 329 54 3 80 36 1,744 6,537 15 70 235 157 9 18 504 '>,. , I~ " ...1 .'. -';:,' ~, . . MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 2000 Variance . Favorable Expenditures Budget (Unfavorable) Support services - business Personnel services - salaries $ 188,178 $ 188,470 $ 292 Personnel services - employee benefits 49,474 49,496 22 . Purchased professional and technical services 26,271 26,287 16 Other purchased services 6,966 7,366 400 Supplies 20,481 21,493 1,012 Other objects 7,116 7,120 4 298,486 300,232 1,746 . Operation and maintenance of plant services Personnel services - salaries 760,377 760,384 7 Personnel services - employee benefits 218,042 218,235 193 Purchased property services S29,422 529,926 504 Other purchased services 43,366 43,483 117 . Supplies 495,910 496,192 282 Property 21,685 21,700 15 Other objects 18,700 18,700 0 2,087,502 2,088,620 1,118 Student transportation services . Personnel services - salaries 20,081 20,176 95 Personnel services - employee benefits 3,631 3,796 165 Other purchased services 842,526 844,490 1,964 Supplies 28,603 29,000 397 Property 1,330 1,350 20 Other objects 477 600 123 . 896,648 899,412 2,764 Central services Supplies 5,75S 7,000 1,245 Other support services . Other purchased services 70, 683 70,988 305 Total support services 7,480,664 7,499,564 18,900 . (Continued) - 26 - . MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 2000 Expenditures Student activities Personnel services - salaries $ Personnel services - employee benefits Purchased professional and technical services Other purchased services Supplies Property Other objects Community services Personnel services - salaries Personnel services - employee benefits Purchased professional and technical services Other purchased services Supplies Other objects Total operation of noninstructional services Facilities acquisitions, construction, and improvement services Purchased property services Total expenditures 342,185 49,393 10,000 17,883 29,417 5,773 31,880 486,531 99,070 23,990 83,416 6,551 1,087 8,226 222,340 708,871 23,400 $ 25,432,221 See accompanying report on supplementary-information. . - 27 - . Budqet $ 342,234 49,911 10,000 18,624 29,420 7,640 31,900 489,729 99,146 24,074 83,500 6,600 1,150 8,250 222,720 712,449 24,000 $ 25,467,219 ~ I -"I Variance Favorable (Unfavorable) $ $ 49 518 o 741 3 1,867 20 3,198 76 84 84 49 63 24 380 3,578 600 34,998 .. ',--,7.' , ,'c "" I'.'C.;.," . --,2';,'-,.',-,..:'_"-,,-",, '1 '1' ""~"" . . MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 2000 . Variance Favorable Expenditures Budqet (Unfavorable) Excess of revenue over (under) expenditures $ 2,937,820 $ 1,895,596 $ 1,042,224 . Other financing sources (uses) Bond proceeds 0 Bond issuance costs 0 Sale of fixed assets 10 10 Debt service payments (13,061) (13,294) 233 . Transfers from other funds 366 366 Governmental fund transfers (2,613,777) (1,914,477) (699,300) Food service transfers (147,880) (147,880) 0 Total other financing sources (uses) (2,774,342) (2,075,651) (698,691) . Excess of revenue and other financing sources over (under) expenditures and other financing USeS 163,478 (180,055) 343,S33 Fund balances, July 1, 1999 4,204,726 3,441,037 763,689 . Fund balances, June 30, 2000 $ 4,368,204 $ 3,260.982 $ L 107,222 . . See accompanying report on supplementary information. . - 28 - . .1:.: lla'i11 'lO:i~~~~~~'''''-;'~~!~'''''''''~''"'''~':-'~ -'';'-''ifji: ,."...wt"~~ """~jj~~~ ~-'.",. '-' _n""" ,"-'0 MECHANICSBURG AREA SCHOOL DISTRICT COMBINING BALANCE SHEET ALL CONSTRUCTION FUNDS JUNE 30, 2000 i .' GOB Series GOB Series GOB Series . 1993 1998 2000 I Assets Investments $ 28,004 $ 9,344,968 $ 4,710,869 Accounts receivable 119,420 Total assets $ 28,004 $ 9.464.388 $ 4,710,869 . Liabilities Accounts payable $ 3,427 $ $ 106,839 Total liabilities 3,427 0 106,839 . Fund equity Unreserved Fund balances 24,577 9,464,388 4,604,030 Total liabilities and fund equity $ 28,004 $ 9.464.388 $ 4.710.869 . . . . See accompanying report on supplementary information. . - 29 - . _,' "n"" 'n ...,_,,' '~~P,.'"",,," ~,~... <". , '--.-, " ',',- ".,' '>-.- " ..~, 1-, . . Variable GON . Series A Ernmaus Bond Of 2000 Pool, 2000 Total $ 4,938,820 $ 14,971,004 $ 33,993,665 119,420 . $ 4,938.820 $ 14,971.004 $ 34,113,085 $ $ 51,114 $ 161,380 0 51,114 161,380 . 4,938,820 14,919,890 33,951,705 $ 4.938.820 $ 14 ,971. 004 $ 34.113,085 . . . . . . <<..'<" >:",-',;J'" ' "<",,,. ,>:- "':,~:o;.i:k_. .. o~.~ '-h:~ ~~%b+)j!<"'rWW:AA~Mfr.MID!ll!.j~'~ii;lil~j"""""""'-" ~ -~"-'l:oi~!illHll'""'"- iM:* ~ -1iI~ ~",""o'"..diIIiIiMIiiiUmllill " =: . MECHANICSBURG AREA SCHOOL DISTRICT COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - ALL CONSTRUCTION FUNDS YEAR ENDED JUNE 30, 2000 . GOB Series GOB Series GOB Series . 1993 1998 2000 Revenue and other financing sources Investments income $ 6,061 $ 530,224 $ 65,023 Bond proceeds 4,995,000 . Total revenue and other financing sources $ 6,061 $ 530,224 $ 5,060,023 Expenditures and other financing uses Facilities acquisition, construction and improvement services $ 204,457 $ 705,956 $ 363,790 . Other financing uses 91,,203 Total expenditures and other financing uses 204,457 705,956 4S5,993 Excess of revenue and other financing . sources over (under) expenditures and other financing uses (198,396) (175,732) 4,604,030 Fund balances, July 1, 1999 222,973 9,640,120 Fund balances, June 30, 2000 $ 24.577 $ 9.464.388 $ 4.604.030 . . II See accompanying report on supplementary information. . - 30 - . "~ ,_,_'<C", ,'~, --~" ~ , ,~ " I , , =, " " ~,' .." - ,--~, li;-~i i . . Variable GON . Series A Emmaus Bond of 2000 Pool, 2000 Total $ 13,655 $ 124,970 $ 739,933 5,000,000 15,000,000 24,995,000 . $ 5.013,655 $ 15,124.970 $ 25.734.933 . $ $ 84,982 $ 1,359,185 74,835 120,098 287,136 74,835 205,080 1,646,321 . 4,938,820, 14,919,890 24,088,612 9,863,093 . $ 4.938,820 $ 14,919.890 $ 33.951.705 . . . . I', , .'" "",. I, " "_'" ~', " 0 - ~','",":, "L',', ,. ~ ;",,-,,', , '~~i" . MECHANICSBURG AREA SCHOOL DISTRICT SPECIAL REVENUE FUND - ATHLETIC ASSOCIATION STATEMENT OF REVENUE AND EXPENDITURES YEAR ENDED JUNE 30, 2000 . . Revenue Season tickets Football gate Jr. High gate Basketball gate Soccer gate Voll,eyball gate Wrestling gate Program sales Program ads Lost equipment Golf tournament Concession stand District playoff General Fund Miscellaneous Total expenditures $ 9,100 32,819 911 13,225 3,856 2,028 8,618 1,037 4,840 748 6,250 4,179 4,668 40,400 2,120 134,799 20,168 8,195 17,865 5,135 9,244 3,966 7,751 9,129 3,694 3,491 3,497 2,334 3,582 1,534 5,271 5,529 2,035 1,406 1,795 254 16,238 49 423 132,585 $ 2.214 It It Total revenue It Expenditures Football Jr. High football Girls' sports Basketball Wrestling Swimming Baseball Soccer Track Golf Golf tournament Cross country Volleyball Tennis District III and state playoffs Training supplies Dues, subscriptions and meetings Purchased services Miscellaneous Utilities Jr. High other sports Concession stand Travel and gas . . . Excess revenue over expenditures . See accompanying report on supplementary information. - 31 - . ~"," "~r" I' " ,,[,,~'"' l' ~. >.. ._, ~- IT:. " . t::; ~:..::c .- J,uS::,) (',1 '""1- \ ' .. " " 2: \::: ( - ~:::::- ~ C~. :-..:.1 >- ~ ~- -\ , 0) ('.~ ::::~ r- eD ~ <: CL. c:. 'o~ ,r"', =3 c) C) '.,- , ~-""~ .. 0,>, ~, ~_ '"~_._,~r. , ~ 'c ..,: -, ~' , 0- f'. u, '<\ ~ ........ r ~ ~ .~ ~ ~ ~<->"" ",", .~,' .,' " ',:~ , ,~-'~- ".,-,.,. ; ",:,'i;.',1 . . I .! , . ., , . . . .